- Bitcoin dropped from $88K to $81K this week amid tariff concerns and stock market volatility; altcoins lost $50B.
- Analyst van de Poppe: Bitcoin must hold $68K to target $75K; a break below risks $65K retest.
Bitcoin’s price fell from $88,000 to $81,000 this week, reflecting broader market unease following former President Trump’s tariff proposals and stock market fluctuations. The drop erased recent gains, with the cryptocurrency now hovering near $82,000.
Altcoins collectively lost $50 billion in value, though Dogecoin (DOGE) and TRON (TRX) edged upward slightly, while Ethereum (ETH), Solana (SOL), and Binance Coin (BNB) lagged.
Investors are scrutinizing Bitcoin’s next moves, as its stability near current levels could dictate short-term trends across crypto markets.
Analyst Michael van de Poppe highlighted Bitcoin’s pivotal position. He noted that holding above $68,000 might propel prices toward $75,000, but a breakdown could see a dip to $65,000 before recovery. Bitcoin’s daily trading volume stands at $39.45 billion, suggesting active participation despite uncertainty.
Van de Poppe also pointed to improving macroeconomic conditions—slowing inflation and potential interest rate cuts—as factors that could buoy crypto markets. Traditional financial markets have shown renewed strength, potentially funneling liquidity into risk assets like Bitcoin.
Altcoins face mixed prospects. DOGE and TRX’s minor rebounds contrast with ETH and SOL’s stagnation, underscoring fragmented sentiment. Bitcoin’s dominance remains a bellwether: a sustained rebound might lift altcoins, while further declines could extend losses.
The coming days may clarify Bitcoin’s trajectory. Technical indicators suggest tension between bullish and bearish forces, with macroeconomic trends tilting cautiously positive. However, volatility persists, amplified by shifting political and economic narratives. For now, investors hold their breath, balancing optimism around rate cuts against immediate pressures like tariffs and equity market swings.
Bitcoin (BTC) is currently trading at $83,970 USD, showing a mild gain of 0.14% in the last 24 hours. The market has been reacting to broader economic uncertainties, including U.S. tariff announcements, which may drive further volatility in crypto assets.
After a recent high near $88,000, BTC experienced a pullback down to $81,000, indicating short-term profit-taking and resistance near its recent peak. The year-to-date performance is still negative, down by about 10.05%, though its 6-month return remains strong at +33.64%, reflecting long-term bullish sentiment despite recent corrections.
Fidelity’s FBTC, or Wise Origin Bitcoin Fund, is priced around $73.80 USD. It’s gaining traction among financial advisors and retail investors alike due to Fidelity’s reputation and solid fee structure. FBTC’s trading volume is growing steadily, and it closely mirrors the performance of Bitcoin itself, making it a reliable vehicle for BTC exposure.
ARK 21Shares Bitcoin ETF (ARKB), managed by Cathie Wood’s ARK Invest, is currently trading near $83.70 USD. ARKB tends to show slightly more price volatility, often aligning with retail speculation trends. While not as dominant in volume as IBIT or FBTC, ARKB has carved out a niche among investors seeking a more aggressive BTC investment narrative.
The Bitwise Bitcoin ETF (BITB) is priced at approximately $45.6 USD. Known for its low expense ratio, BITB is favored by cost-conscious investors looking for long-term exposure to Bitcoin. It offers a balanced mix of volume and efficiency and maintains strong tracking with BTC’s price movements.
Grayscale’s GBTC recently transitioned into a spot ETF and now trades around $56.20 USD. Although it previously traded at a significant discount to its net asset value, the ETF structure has helped it realign more closely with BTC’s actual price. GBTC remains a key player, particularly for legacy investors who held positions prior to the conversion.
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