Bitcoin Drops Below $100,000 After Record Close, Analysts Warn of Possible $95,000 Bear Trap
Generado por agente de IACyrus Cole
lunes, 3 de febrero de 2025, 4:08 am ET1 min de lectura
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Bitcoin (BTC) has dropped below the $100,000 mark for the first time since Jan. 27, 2025, following a record monthly close above $102,412 in January. The decline comes amid inflation concerns after President Donald Trump imposed import tariffs on goods from China, Canada, and Mexico, which has raised concerns about a potential slowdown in economic growth and a possible reduction in risk appetite among investors. However, some analysts believe that the current correction may only be a bear trap, and Bitcoin could still see more upside in February if next week's labor market data points to a "sluggish economy," which may strengthen the case for a rate cut by the Federal Reserve, creating a more supportive environment for Bitcoin.
Bitcoin's price has been on a rollercoaster ride in recent months, with the cryptocurrency staging its first monthly close above $100,000 in crypto history in January. However, the price has since retreated, and some analysts are warning of a potential bear trap at the $95,000 level. Ryan Lee, chief analyst at Bitget Research, told Cointelegraph that the $95,000 range remains a critical support area, and the interplay between labor market trends, Fed policy expectations, and market sentiment will be the main catalysts to monitor in the coming weeks. However, Bitcoin could see more upside in February if next week's labor market data points to a "sluggish economy," added the analyst.
Despite the potential for a short-term correction, Bitcoin's prospects remain bullish for the rest of 2025, especially after spot Bitcoin exchange-traded funds (ETFs) surpassed a record $125 billion milestone just over a year after they first debuted for trading in the US on Jan. 11, 2024. Analyst predictions for the rest of the 2025 market cycle range from $160,000 to above $180,000. However, investors should remain cautious and monitor the market closely, as the potential for a bear trap at the $95,000 level could lead to further price volatility in the short term.
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Bitcoin (BTC) has dropped below the $100,000 mark for the first time since Jan. 27, 2025, following a record monthly close above $102,412 in January. The decline comes amid inflation concerns after President Donald Trump imposed import tariffs on goods from China, Canada, and Mexico, which has raised concerns about a potential slowdown in economic growth and a possible reduction in risk appetite among investors. However, some analysts believe that the current correction may only be a bear trap, and Bitcoin could still see more upside in February if next week's labor market data points to a "sluggish economy," which may strengthen the case for a rate cut by the Federal Reserve, creating a more supportive environment for Bitcoin.
Bitcoin's price has been on a rollercoaster ride in recent months, with the cryptocurrency staging its first monthly close above $100,000 in crypto history in January. However, the price has since retreated, and some analysts are warning of a potential bear trap at the $95,000 level. Ryan Lee, chief analyst at Bitget Research, told Cointelegraph that the $95,000 range remains a critical support area, and the interplay between labor market trends, Fed policy expectations, and market sentiment will be the main catalysts to monitor in the coming weeks. However, Bitcoin could see more upside in February if next week's labor market data points to a "sluggish economy," added the analyst.
Despite the potential for a short-term correction, Bitcoin's prospects remain bullish for the rest of 2025, especially after spot Bitcoin exchange-traded funds (ETFs) surpassed a record $125 billion milestone just over a year after they first debuted for trading in the US on Jan. 11, 2024. Analyst predictions for the rest of the 2025 market cycle range from $160,000 to above $180,000. However, investors should remain cautious and monitor the market closely, as the potential for a bear trap at the $95,000 level could lead to further price volatility in the short term.
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