Bitcoin Bounces Back From Trump’s Tariff Fiasco, Almost Hits $100K Again

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Well, look at that! Bitcoin, after getting a good old punch in the gut from Trump’s tariffs, is slowly creeping its way back to that shiny $100,000 mark. It’s like a comeback story, only this time the hero is a volatile digital coin instead of a struggling boxer. We’ve all been watching, as the price stumbled down, hitting a low point—down 30% from its lofty peak of nearly $109,000 back in January. Talk about a rollercoaster ride, huh? 🎢

Of course, all that downward pressure came from Trump’s brilliant tariff policies, which sent the stock market and crypto world into a bit of a panic. Shockwaves, they called it. Investors were doing their best impression of headless chickens. 🐔

But wait! Enter Bitcoin’s comeback. The digital currency has managed to scrape itself off the floor, climbing 3.1% to $97,483. That’s the highest it’s been since late February. So close, yet so far, to $100K. If Bitcoin could talk, it’d probably say, “Just one more push, guys.” 😎

Smaller coins like Dogecoin and Ether aren’t sitting around either. They decided to get in on the action, with Dogecoin seeing a 4.8% rise and Ether up 3.3%. Maybe they all decided to have a little family reunion at the top of the market.

Why the sudden shift? Well, investors are apparently back in the game, but this time with a different strategy. Forget inflation and tariffs; it’s all about momentum now. Traders are chasing the highs like surfers waiting for the next big wave. 🏄‍♂️

Bitcoin and Ether-based ETFs have been gobbling up investor cash like a kid in a candy store. In the last week alone, ETFs saw over $3.2 billion in inflows. IBIT, the iShares Bitcoin Trust ETF, even got $1.5 billion of that, marking its biggest inflow of the year. Somebody’s making a bet on Bitcoin’s future. 💰

Speaking of bets, the options market is booming. Investors are holding onto contracts with a $100K strike price like it’s the Holy Grail. And despite all the market jitters, the liquidation levels are barely budging. Guess investors are holding their ground.

Now, this market? It’s all about the spot demand, baby. Momentum-based trading is where it’s at, according to Chris Newhouse, a bigwig over at the DeFi firm Ergonia. Bitcoin’s acting like gold on some days, and on others, it’s running around like an over-caffeinated stock. The price is ruled by short-term momentum rather than the macroeconomic stuff that used to dominate the scene.

Don’t let the quiet moments fool you. Yes, things got rough right after Trump’s tariff announcement, and sure, we saw some panic selling. But, Bitcoin and the rest of the crypto world are picking themselves up, dusting off, and moving forward with renewed confidence. Investors are getting back in line, ready for the next ride. 🎉

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2025-05-02 16:25