Bitcoin Braces for $90K Storm as U.S.-China Tariffs Intensify

Bitcoin Faces Choppy Waters as U.S.-China Tariffs Threaten $90K Correction

Bitcoin's price briefly dipped below $100,000 on February 4, as escalating U.S.-China trade tensions sparked fears of a full-blown trade war, according to Cointelegraph. Market experts warn of potential corrections below $90,000 if the broader economic landscape deteriorates. Ryan Lee, chief analyst at Bitget Research, noted that heightened volatility in traditional markets could either push investors to Bitcoin as a hedge or cause a sell-off in risk assets. "Escalating tensions may weaken traditional markets, prompting investors to seek Bitcoin... but broader uncertainty could still trigger short-term corrections," Lee said.

Despite the pressure, Bitcoin remains on track with historical cycles. The cryptocurrency is up 525% since the FTX collapse and continues to move within a channel between $90,000 and $109,000. CoinDesk analyst James Van Straten pointed out that Bitcoin's trajectory still aligns with its 2017 cycle.

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Bitcoin, the first cryptocurrency, allows direct peer-to-peer transactions without a bank. It uses blockchain technology, which is like a shared book everyone can see, ensuring no one can cheat or change the records. Miners help check transactions by solving hard puzzles and get rewarded with bitcoins. There's a limit of 21 million bitcoins that can ever be made. Bitcoin has a lot of potential, offering a new way to handle money free from central control. Every four years, "halving" happens, cutting the rewards miners get