While tariff tensions and developments between the US – China and other countries negatively affected Bitcoin, BTC fell to $74,000 levels in April.
Afterwards, BTC started to recover with the moderate steps taken by US President Donald Trump and broke a new record by rising above $111,000 in the last days of May.
While tariff tensions have had a significant impact on Bitcoin, Swyftx Chief Analyst Pav Hundal identified Trump’s ongoing tariff uncertainty as a significant threat to Bitcoin.
At this point, Pav Hundal said that Bitcoin could reach $120,000 in June if trade tensions in the US ease.
“The biggest threat to bulls right now is that nothing changes for the next two months and we get stuck in this endless cycle of tariff uncertainty.
If the tariff tensions are resolved, Bitcoin could reach $120,000 in June. However, if the bears say 'I told you so', we could see Bitcoin fall below $100,000.” $BTC #CircleIPO #TrumpTariffs
