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>>Bitcoin Price Forecasts After the Market Downturn: Could a New Record High Be Coming?

Bitcoin Price Forecasts After the Market Downturn: Could a New Record High Be Coming?

crypthub

about 18 hours ago

Market Reaction to Trump's Tariffs

Bitcoin's price experienced a sharp decline following President Trump's announcement of potential tariffs on Chinese technology products, briefly dropping to $101,000. Subsequently, the market recovered, and bulls regained much of the lost ground. The event highlighted the cryptocurrency market's sensitivity to geopolitical news and potential trade conflicts. Overall sentiment is shifting.

Potential for New All-Time Highs

Several analysts are optimistic about Bitcoin's prospects, suggesting the recent downturn could be the start of a new bull market. They believe the price drop was an overreaction and anticipate a return to upward momentum. Veteran traders like Peter Brandt and Alex Becker predict Bitcoin could reach a new all-time high relatively soon.

Positive Indicators Emerge

Key indicators are supporting the bullish outlook, including a significant decrease in Bitcoin reserves held on exchanges. The CryptoQuant data reveals a seven-year low in BTC assets on exchanges. Additionally, while the Fear & Greed Index recently indicated widespread fear, it often moves against prevailing market sentiment.