Bitcoin has been experiencing significant volatility, dropping below $90,000, a sharp decline from its previous high of over $109,000 on Donald Trump's inauguration day. Investors initially hoped for favorable crypto regulations under Trump's administration, but these expectations were unmet. Contributing to Bitcoin's decline was a massive $1.5 billion crypto theft from Bybit and Trump's tariff announcements against Mexico and Canada. Eric Trump and Michael Saylor encouraged buying the dip, with Saylor planning substantial Bitcoin acquisitions. Bitcoin's market cap fell to $1.76 trillion, and the Crypto Fear and Greed Index indicated extreme fear.
Meanwhile, some analysts remain optimistic about Bitcoin's future. Veteran analyst Sam Price predicts Bitcoin will reach new all-time highs, citing bullish indicators such as the 22-hour 200 EMA. Additionally, Bitget CEO Gracy Chen believes Bitcoin could surpass gold's market cap by 2025, driven by institutional adoption. Despite the current turbulence, Bitcoin's long-term outlook remains a topic of debate among experts, with many closely monitoring regulatory developments and market trends.
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