Bitcoin Hovers Near $90K as US Tariff Fears Deter ETF Investors

Bitcoin’s Wild Ride Around $90K: A Tale of Tariffs, ETFs, and Market Ups and Downs

Bitcoin’s Rollercoaster Journey

Bitcoin, the world’s biggest cryptocurrency, has been on an exciting but bumpy ride lately, with its price going up and down around the $90,000 mark. This volatility, or price changes, is partly because of worries about U.S. tariffs and how they affect investor feelings, especially among those who invest in ETFs (Exchange-Traded Funds). Let’s explore what’s making Bitcoin’s price move up and down.

The Impact of U.S. Tariffs

Recently, when former President Donald Trump said he wanted to put tariffs on Canada and Mexico, Bitcoin’s price dropped below $83,000[1]. This news scared investors, and they sold their Bitcoin. But Bitcoin is strong, and it quickly went back up to over $90,000 again[1]. This shows that Bitcoin can handle economic problems, but the tariff issue is still making investors unsure.

ETFs and Investor Feelings

ETFs help traditional investors join the crypto world. However, some big investors are taking their money out of U.S. Bitcoin ETFs[3]. This might be because they’re worried about the future of the market, maybe because of the tariff problem.

Market Volatility and Technical Stuff

Bitcoin’s price goes up and down a lot. It’s been trading above a certain line called the 200-day EMA, which is a good sign[3]. But it’s still below another line called the 50-day EMA, which could stop its price from going up more[3]. Some technical indicators, like RSI and MACD, have been sending mixed signals, showing that Bitcoin could go up or down[2].

People Buying More Bitcoin

When Bitcoin’s price dropped to around $90,000, more people started buying it[4]. This means they think the price is low and it’s a good time to buy. On-chain metrics, which show what’s happening on the Bitcoin network, also show that more people are interested in Bitcoin[4]. This could help stabilize Bitcoin’s price around $90,000[4].

Navigating the Storm

A Powerful Summary

In short, Bitcoin’s journey around $90,000 is like a story with many parts. While tariffs and ETF outflows make things harder, Bitcoin’s strength and more people buying it when the price is low suggest it could grow more. As the market keeps changing, investors will watch closely to see if things get more stable or if there’s more ups and downs.

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Sources:
– crypto.news
– coinfomania.com
– thecryptobasic.com
– blockchain.news
– ambcrypto.com