Bitcoin Soars Above $90,000: A Closer Look at Trump’s Tariff Delay Impact
Bitcoin’s Wild Ride
Bitcoin, the world’s most famous digital money, has made big news again! It recently went over $90,000. This sudden rise is due to many reasons, one of them being a big change in global trade rules. On March 5, 2025, Bitcoin got 3.7% more valuable in just one day, reaching over $90,000. This happened after Donald Trump said he would wait to put extra taxes on car parts from Canada and Mexico[3]. This made investors feel better and helped other markets get stronger too.
Trump’s Tariff Delay: A Market Game-Changer
The U.S. government’s decision to wait on putting extra taxes on car parts from Canada and Mexico has had a big effect on markets all over the world. This delay, along with other good economic news like Germany planning to ease debt rules and China increasing its budget deficit, has made people more willing to take risks[3]. The U.S. dollar has also gotten weaker, which has helped Bitcoin’s price go up[3].
Bitcoin’s Price Rollercoaster
Bitcoin’s price has been going up and down a lot lately. After it went below $90,000, it lost a lot of value, going down to around $78,200[1]. But then, after Trump talked about cryptocurrency reserves, Bitcoin’s price suddenly went up by over 23%, reaching $96,700[1]. Even though it had a brief comeback, Bitcoin has been facing pressure to go down, and its short and medium-term trends show this[1].
What the Market Thinks and Technical Stuff
Some market experts say that Bitcoin might be ready for a comeback because it’s been sold too much. A tool called the Relative Strength Index (RSI) shows that Bitcoin is almost in a place where it could start to get more valuable again if the pressure to sell eases[2]. But the fact that big Bitcoin holders, called “whales,” aren’t buying more could make the price go down more[2].
Bitcoin’s Strong Points
Even with all the ups and downs, Bitcoin’s basic strengths are still good. A measure called the Bitcoin Fundamental Index shows that Bitcoin’s network is healthy, even when its price is going up and down a lot[3]. This means that Bitcoin is unlikely to have a long period of going down, which gives us a positive outlook for the future of the cryptocurrency[3].
What’s Next for Bitcoin?
Looking Ahead
Bitcoin’s recent rise above $90,000 shows how much it’s affected by global economic news. The delay in tariffs by Donald Trump has helped it go up, along with other good economic news. Even though Bitcoin has some challenges, like bearish trends and less activity from big holders, its strong basic strengths show that it can handle a long period of going down. As the cryptocurrency market keeps changing, investors will watch closely to see how these factors affect Bitcoin’s price in the coming months.
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Sources:
– Cointribune
– BeInCrypto
– CoinDesk
– Binance