Bitcoin's recent performance reflects a complex interplay of macroeconomic factors and market reactions. The cryptocurrency's struggle to stay above $90,000 has been exacerbated by US tariff fears, leading to net negative outflows from Bitcoin ETFs. This situation, highlighted by Bitget Research's Ryan Lee, limits the potential for a robust recovery.
The market experienced a brief surge when Bitcoin surpassed $95,000, only to witness a decline, forming a double-top pattern around $94,200. Analysts like Iliya Kalchev emphasize the pressure from uncertain trade policies on Bitcoin's price. Further complicating the landscape was a historic $1.4 billion hack on Bybit, underscoring the vulnerability within the crypto space.
In contrast, the possibility of US tariff rollbacks provided a temporary boost, with Bitcoin climbing above $90,000. Despite fluctuations, predictions about Bitcoin's future remain varied, with some seeing potential dips to $72,000, while others foresee a dramatic rise to $500,000 by 2028, fueled by institutional interest and pro-crypto policies. The market remains on edge, balancing between promise and instability, as geopolitical and economic factors continue to influence Bitcoin's trajectory.
