Cryptocurrency Market Update

In the last 24 hours, the cryptocurrency market has experienced a drop of 3.7%. During the period, the Bitcoin (BTC) market has declined by over 1.9%. Currently, the price of BTC stands at $89,003.65 – nearly 22.49% below its all-time high. In the last 30 days, the BTC price has dropped by over 8.7%. While this recent dip has raised concerns, experts believe the bull run is far from over. Cory Klippsten, CEO of Swan Bitcoin, predicts that BTC could surpass $109,000 by June.

BTC’s Path to a New All-Time High

Klippsten believes that Bitcoin has at least a 50% chance of reaching a new all-time high by June, arguing that BTC remains in a strong upward trend despite short-term dips. He emphasizes that the market needs to absorb macroeconomic uncertainties, including Trump’s tariff policies and fears of inflation.

Macroeconomic Factors Impacting Bitcoin’s Price

On February 1, US President Donald Trump introduced an aggressive tariff policy against China, Canada, and Mexico, imposing tougher import tariffs that have severely affected the BTC market. After this policy was initiated, the BTC price dropped by approximately 14%. Klippsten states that inflation fears have also influenced the Bitcoin market, but he believes that the current downtrend is only short-term.

Why This Is a Pause, Not the End of the Bull Run

Klippsten argues that Bitcoin’s momentum from its $100K breakout remains strong. Institutional demand for BTC is steady, and long-term investors are not selling their holdings. The market showed a decline of -3.19% in December 2024 but recorded a +9.54% return in January 2025. In February, it registered a return of -17.5%, but this month has seen growth of 5.53% so far.

Impact of Trump’s Strategic Bitcoin Reserve Announcement

Recently, the Trump administration confirmed its plans to establish a crypto strategic reserve. However, this announcement has not impacted the BTC market significantly, with experts believing that unclear details concerning the amount of BTC to be purchased disappointed the crypto community.

Bitcoin’s Expected Price Movements in the Coming Weeks

Analyst Timothy Peterson predicts that BTC will trade between $85,000 and $95,000 for the next 6 to 12 weeks, after which a rebound to $100,000 is expected.