As of February 4, 2025, Bitcoin ($BTC
BTC) is trading at approximately $98,829, reflecting an increase of about 3.57% from the previous close. The day's trading range has seen a high of $102,591 and a low of $94,258.
This recent uptick follows a period of volatility influenced by geopolitical events. Notably, U.S. President Donald Trump's announcement of new tariffs on imports from Canada, Mexico, and China had previously exerted downward pressure on Bitcoin's price. However, subsequent decisions to pause these tariffs have contributed to a rebound in the cryptocurrency market.
Analysts are closely monitoring key support levels for Bitcoin, particularly around $92,000 and $87,000, to assess potential future movements. Conversely, the $106,000 level is identified as a significant resistance point to watch during potential upswings.
Overall, Bitcoin's price dynamics remain sensitive to global economic developments and policy decisions, underscoring the importance of staying informed about both market trends and geopolitical events.
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