Trump’s tariffs blamed for Bitcoin’s recent downtrendBitcoin (BTC) fell below $100,000 on Feb.2, with many market participants blaming the downturn on Trump’s newly imposed tariffs and uncertainty over US interest rates. Coutts based his rosy rebound prediction on easing financial conditions, a weakening US dollar and the People’s Bank of China ramping up liquidity since early 2025.“Financial conditions have eased dramatically this month, highlighted by the US dollar’s third-largest three-day decline since 2015 and significant drops in rates and Treasury bond volatility,” he said.“Liquidity remains central to investing in all asset classes,” he added.Bitcoin is down 3.16% over the past 30 days.
Bitcoin will break past its $109,000 all-time high sooner than expected despite recent volatile US macroeconomic conditions, according to a crypto analyst. “The market may be underestimating how quickly Bitcoin could surge – potentially hitting new all-time highs before Q2 is out,” Real Vision chief crypto analyst Jamie Coutts told Cointelegraph. He said this forecast stands regardless of whether or not there is more clarity on US President Donald Trump’s tariffs and potential recession concerns.
CryptoQuant’s Bull Score Index is at 20, its lowest since January 2023, signaling a weak Bitcoin market with low chances of a strong rally soon. Based on historical performance, if the score remains below 40 for an extended period, it could signal continued bearish market conditions, similar to previous bear market phases.
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Author / Journalist: Cointelegraph by Ciaran Lyons
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