Bitcoin’s price is stuck in neutral, and it’s all thanks to the global economy. Despite some good news (like Trump’s plan for a Bitcoin reserve), the market’s still worried about trade wars and economic uncertainty.
Macroeconomic Woes Weigh Down Crypto
Even positive news isn’t enough to get Bitcoin moving upwards. Investors are nervous, leading to a lack of significant price changes. Data shows Bitcoin and Ethereum are closely following the US stock market. This means that what happens on Wall Street heavily influences crypto prices.
The US Stock Market’s Influence
With worries about tariffs dragging down the stock market, Bitcoin is getting pulled down too. If stocks keep falling, we could see another crypto sell-off. Basically, until the overall economic picture improves, Bitcoin is vulnerable.
Bitcoin’s Price Battle: $85,000 vs. $90,000
Right now, Bitcoin is trading around $86,300. Buyers are trying to hold the $85,000 support level, but breaking through $90,000 resistance is proving tough. If Bitcoin falls below $85,000, it could drop sharply. However, a successful push above $90,000 could signal a rapid price increase. The next few days will be crucial in determining which way Bitcoin goes.
