$BTC is currently trading around $94,943, showing signs of a potential breakout as traders monitor developments in U.S. trade policy. The cryptocurrency market has been relatively stable over the past week, with $BTC hovering near the $95,000 mark. Analysts suggest that this consolidation phase could precede a significant upward movement, especially in light of recent macroeconomic factors.
One notable development is the recent statement from former President Donald Trump, indicating progress in tariff negotiations. Such geopolitical news often influences investor sentiment, and in this case, it may be contributing to the optimistic outlook for $BTC .
However, it's worth noting that spot Bitcoin exchange-traded funds (ETFs) experienced a $56 million outflow on Wednesday, ending an eight-day streak of inflows totaling nearly $3 billion. This shift suggests a degree of caution among investors, possibly due to broader market uncertainties.
Overall, while the market remains in a state of consolidation, the combination of technical indicators and macroeconomic developments points to the possibility of an imminent breakout for Bitcoin.