Leading cryptocurrency Bitcoin (BTC) has recovered strongly in recent days
Leading cryptocurrency Bitcoin (BTC) has recovered strongly in recent days, regaining the $85,000 level after suffering sharp declines due to tariff tensions between the US and China.
Now, as Bitcoin’s $90,000 level is being discussed again, Bitfinex said that this rise was due to the macro easing that came after US President Donald Trump announced his decision to suspend new tariffs for 90 days, the decrease in trade tensions and the revival of risk appetite.
Bitfinex stated in its weekly report that the strong rally in BTC was supported by spot market demand, indicating that there is genuine belief among buyers for the rally.
At this point, Bitfinex argued that Bitcoin aims to reach $90,000 as spot demand increases and macro uncertainty decreases.
Although BTC remains range-bound between $75,000 and $85,000, analysts said that if continued spot buying by long-term investors and renewed accumulation continue, there is a potential for a price breakout towards $90,000.
However, analysts said they expect a short-term pullback, adding that the reaction to the decline will determine Bitcoin’s direction:
“The spot cumulative volume delta on major exchanges suggests continued aggressive buying, but the price remains stuck in the $75,000 to $85,000 range. This divergence points to the potential for a breakout to the upside if supply shrinks further. However, a short-term pullback driven by profit-taking is expected early this week. The response to this drop (whether buyers continue to absorb supply) will determine whether Bitcoin continues to head toward $90,000.”
*This is not investment advice.
