Bitcoin Trades Around $89,000 as Markets Face Renewed Tariff Threats from Trump
Written by Emily J. Thompson, Senior Investment Analyst
Source: Benzinga
- Market Volatility: Bitcoin is currently trading around $89,000 as markets react to renewed tariff threats from Trump, with liquidations reaching $867.95 million in the past 24 hours, indicating heightened investor anxiety.
- ETF Outflows: Bitcoin ETFs experienced net outflows of $483.4 million on Tuesday, while Ethereum ETFs saw $229 million in outflows, reflecting a decline in investor confidence that could impact future inflows into the cryptocurrency market.
- Price Correction Outlook: Analyst Michael van de Poppe suggests that Bitcoin may continue to correct until clearer guidance emerges following the upcoming Japanese central bank meeting, with downside pressure expected in the next 48 hours.
- Ethereum Whale Activity: Analyst Ali Martinez noted that whales have redistributed approximately 110,000 ETH over the past nine days, warning that if Ethereum fails to reclaim the $3,000 level soon, it risks dropping toward its December lows.
Analyst Views on BTC
Wall Street analysts forecast BTC stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BTC is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
