Bitcoin Surges 6% to $92K After Tariff Delay
The Most Important Points at a Glance
Bitcoin reacts strongly to political decisions. After U.S. President Trump announced a one-month delay on auto tariffs for Canada and Mexico, Bitcoin’s price surged by 6% to $92,535 USD. This development highlights how economic policy measures can influence crypto markets. But the question remains: Can Bitcoin reach the $100,000 mark?
Bitcoin Recovers After Tariff Delay
On March 5, President Trump announced a one-month delay in the planned auto tariffs for Canada and Mexico. This news led to a rapid increase in Bitcoin’s price after the cryptocurrency had previously fallen to around $78,000 USD. The recovery demonstrates that macroeconomic events play a crucial role in price movements.
The support zone at $80,000 USD proved to be stable, while resistance between $95,000 and $100,000 USD remains a hurdle.
Market Dynamics and Open Interest
A look at the market shows that open interest (OI) – a measure of outstanding derivative positions – has fallen to a five-month low of $47.27 billion USD. This suggests that many traders have closed their positions, which could lead to increased volatility.
Historically, such declines in open interest often precede major market movements. Just last week, Bitcoin dropped by 15% to $84,000 USD, accompanied by over $8 billion USD in liquidated positions.
Is Bitcoin at a Turning Point?
Although the markets reacted positively to Trump’s announcement – with stocks of automakers like Ford rising by over 5% – uncertainty remains high. The threat of further trade tariffs could once again weigh on Bitcoin’s recovery and other assets.
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From a technical perspective, a key support zone lies between $85,000 and $90,000 USD. If optimism surrounding Trump’s economic policy promises continues to grow, Bitcoin could test the resistance range of $95,000 to $100,000 USD.
Another positive signal is the recent inflow of $22 million USD into Bitcoin ETFs, following significant outflows. This could indicate rising institutional interest.
Our Assessment
Bitcoin once again demonstrates its dependence on macroeconomic developments. The current recovery is promising, but uncertainty remains high. A sustained breakthrough above $100,000 USD depends on further economic policy developments and market sentiment. Traders should closely monitor geopolitical risks and the behavior of institutional investors.
| Symbol | BTC |
| Coin type | Alt Coin |
| Transaction Speed | Slow |
| Pros |
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| Cons |
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| Further practical applications | |
| Price | $88,987.00 |
| 24h % | -1.63 % |
| 7d % | 6.00 % |
| 30d % | -9.99 % |
| 60d % | -9.23 % |
| 1y % | 33.06 % |
| Market Cap | $1,765,172,290,817.00 |
| Max. Supply | 21,000,000.00 |
| Official Links | Website | Whitepaper | Source Code |
| Socials | Reddit | X | Message Board |
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