Bitcoin costs climbed again above $100,000 at present. (Picture illustration by Chesnot/Getty Photos)
Bitcoin bounced again on Monday, February 3, rising above $100,000 as soon as once more after falling to almost $90,000 over the weekend.
The world’s Most worthy digital forex reached roughly $102,600 shut to five p.m. EST, in response to Coinbase data from TradingView.
At this level, the cryptocurrency was up greater than 10% from the current low of near $91,000 it attained on Sunday, February 2, extra Coinbase figures from TradingView present.
When explaining the digital asset’s newest worth actions, analysts cited a number of elements, together with the current tariff bulletins, supply-demand dynamics and likewise the affect of speculative bets being liquidated.
One market observer who weighed in on these developments is the the TikTok influencer who goes by Wendy O.
“Over the weekend President Trump introduced tariffs on Mexico, Canada and China,” she famous by way of e-mail. “Since this was introduced on 2/1/2025, Saturday, this triggered quite a lot of concern for crypto merchants on how this might affect conventional markets.”
“Many, together with Blackrock have indicated that Bitcoin is a perfect asset throughout risky occasions of financial uncertainty, just like Gold,” she emphasised.
The analyst additionally emphasised sharp modifications in leveraged positions, citing information offered by crypto analytics platform CoinGlass.
“In line with CoinGlass most merchants took a protracted place and out of the historic $2.2B liquidations, ~$1.5B longs had been liquidated whereas gold hit an all-time excessive,” Wendy famous.
“This signifies Bitcoin merchants, could have anticipated that Bitcoin would proceed with bullish worth motion as unsure financial situations may have occurred Monday attributable to Trumps tariffs (just like gold).”
“Nevertheless, the 25% tariffs positioned on Mexican imports has been paused for the following 30 days which may point out much less volatility,” she acknowledged, emphasizing at present’s announcement that President Donald Trump was postponing tariffs on Mexico till early subsequent month.
Markets additionally came upon at present that Trump deliberate to pause the Canadian tariffs he introduced over the weekend after talking with Prime Minister Justin Trudeau.
‘No Shock’
Sure analysts who provided enter for this text made at present’s improve in bitcoin costs appear predictable given present market situations.
“Bitcoin’s restoration to $100K and above isn’t any shock—it’s easy provide and demand,” Cory Klippsten, CEO of Swan Bitcoin, stated by way of emailed feedback.
“Establishments, sovereign wealth funds, and on a regular basis persons are realizing fiat’s inevitable decline and shifting into the very best cash ever invented,” he added.
“Weak fingers bought within the current dip, however sturdy holders stepped in, stacking tougher,” Klippsten acknowledged. “In the meantime, international uncertainty is driving extra individuals to choose out of failing fiat. This is just the start.”
Tim Enneking, managing accomplice of Psalion, additionally weighed in.
“Right now’s rebound was merely a restoration from the absurd drop yesterday,” he acknowledged by e-mail.
“Normally, the correlation with sure fiat markets works in opposition to Bitcoin; yesterday, had US equities markets been open, it might have labored very a lot in favor of BTC,” Enneking emphasised.
“The drop on Sunday hit ridiculous proportions as a result of there was nothing to gradual it down and concern completely dominated greed; the drop solely slowed as soon as Asia markets had opened and had completely reversed a number of hours after US markets had executed the identical,” he acknowledged.
“So, billions of lengthy positions worn out and one other information level created for people who’re contemplating investing within the crypto ecosystem,” Enneking concluded.
‘Provide Squeeze’
Alex Lin, cofounder and common accomplice at enterprise capital agency Reforge, additionally weighed in, highlighting the sturdy curiosity of cryptocurrency consumers.
“BTC’s rebound above $100,000 after its weekend lows factors to a big provide squeeze,” he wrote by emailed feedback.
“Over the previous few days, retail buyers capitulated attributable to fears sparked by Trump’s commerce conflict headlines. Nevertheless, giant gamers and establishments took benefit of the dip to build up, as proven by the Coinbase Bitcoin Premium Index, which indicated sturdy purchaser demand with a noticeable premium,” Lin acknowledged.
“This exercise underscores BTC’s resilience and suggests potential bullish momentum, particularly as confidence within the broader market outlook stays sturdy,” he added.
Disclosure: I personal some bitcoin, bitcoin money, litecoin, ether, EOS and SOL.
