US President Donald Trump's imposition of new tariffs on Canada, Mexico, and China caused Bitcoin prices to drop to $91,500, but the cryptocurrency quickly recovered. A rejection at the $102,000 price zone suggests uncertainty about the current bull run. Crypto analyst Burak Kesmeci highlighted the Bitcoin Advanced NVT metric, which indicates local bottoms and predicts future market trends. The metric fell to a level consistent with past bottoms, suggesting a price rally is due. However, historical data suggests consolidation may occur before a strong rally. In other news, the Bitcoin market has seen three weeks of net exchange outflows, indicating bullish sentiment. BTC is currently trading at $96,720, experiencing a 0.84% decline in the past 24 hours and a 6.48% loss for the week.
Content Editor ( bitcoinist.com )
- 2025-02-09
Bitcoin Key Metric Signals Local Bottom – Price Rally On The Horizon?
