## Bitcoin News: BTC Price Crosses $90K as Donald Trump Delays Canada, Mexico Auto Tariffs
Introduction
Bitcoin (BTC) has experienced significant volatility in recent weeks, influenced by various global economic factors and political announcements. One of the most notable events was the delay of auto tariffs on Canada and Mexico by U.S. President Donald Trump, which has broader implications for global trade and economic stability. Additionally, Trump’s comments on establishing a strategic cryptocurrency reserve have contributed to Bitcoin’s price fluctuations. This report provides an in-depth analysis of Bitcoin’s recent price movements and the factors influencing its market.
Recent Price Movements
Bitcoin’s price has been highly volatile, reaching a peak of nearly $95,000 following Trump’s announcement about a strategic cryptocurrency reserve. However, this rally was short-lived, with the price retreating to around $87,600 as of early March 2025[1][3]. Despite this pullback, Bitcoin briefly crossed the $90,000 mark in recent trading sessions, reflecting ongoing market optimism and potential for further price increases.
Impact of Trump’s Crypto Reserve Announcement
President Trump’s proposal to create a strategic cryptocurrency reserve, which includes Bitcoin, initially boosted investor confidence and led to a significant price surge. However, legal and logistical challenges associated with implementing such a reserve have raised questions about its feasibility and potential impact on the market[1]. Despite these uncertainties, the announcement highlighted the growing recognition of cryptocurrencies by major political figures, which could contribute to increased adoption and investment in the sector.
Economic Factors and Tariff Delays
The delay of auto tariffs on Canada and Mexico by President Trump is part of broader efforts to stabilize global trade relations. This move can reduce economic uncertainty and potentially boost investor confidence across various markets, including cryptocurrencies. While Bitcoin’s price is not directly tied to these tariffs, improved economic stability can create a more favorable environment for investment in digital assets[3].
Market Analysis and Outlook
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Technical Analysis
From a technical perspective, Bitcoin’s recent price action has been marked by a false breakout above $90,623, suggesting that bears may regain control if the daily close remains below this level[4]. The Relative Strength Index (RSI) indicates fading bearish momentum, but a move above the neutral level of 50 is needed to confirm a bullish trend[3]. Key support levels are at $85,000 and $73,000, while resistance lies at $90,000 and $95,000[1][3].
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ETF Flows and Institutional Demand
Recent ETF flows have shown mixed signals, with a significant investment of $94.3 million in spot Bitcoin ETFs at the end of February, but followed by outflows totaling $217.7 million in early March[1][3]. This volatility in institutional demand highlights the ongoing uncertainty in the market.
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Upcoming White House Crypto Summit
The first-ever White House Crypto Summit, scheduled for early March, is expected to bring significant attention to cryptocurrency regulation and innovation. This event could introduce new regulatory clarity, potentially impacting Bitcoin’s price and market sentiment[3].
Conclusion
Bitcoin’s recent price movements reflect a complex interplay of political announcements, economic factors, and market sentiment. While the delay of auto tariffs and Trump’s crypto reserve proposal have contributed to volatility, the upcoming White House Crypto Summit may provide crucial regulatory insights that could shape the future of cryptocurrencies. As Bitcoin navigates these challenges, investors remain cautious, awaiting clearer signals for sustained price growth.
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References
1. [MarketPulse: Bitcoin’s Wild Ride](https://www.marketpulse.com/crypto/bitcoins-btc-usd-wild-ride-open-interest-etf-flows-amid-trumps-crypto-remarks/zvawda)
2. [Fidelity Digital Assets: Bitcoin Price Phases](https://www.fidelitydigitalassets.com/research-and-insights/bitcoin-price-phases-navigating-bitcoins-volatility-trends)
3. [FXStreet: Bitcoin Price Forecast](https://www.fxstreet.com/cryptocurrencies/news/bitcoin-price-forecast-btc-expects-volatility-around-white-house-crypto-summit-202503050926)
4. [U.Today: Bitcoin Price Prediction](https://u.today/bitcoin-btc-price-prediction-for-march-5)
Related sources:
[2] www.fidelitydigitalassets.com
[3] www.fxstreet.com
[4] u.today