Source: Wall Street Journal.
Analysis suggests that the recent market uncertainty has actually fueled the rise of Bitcoin, as investors begin to doubt the dollar's status as a safe haven, which may continue to support Bitcoin's trend. Although the Trump administration has softened its tough rhetoric on tariff issues, the market is still waiting for a clear direction in its trade policy.
Bitcoin rebounded strongly on Thursday, with an increase of nearly 6%, breaking the key $0.1 million mark, reaching a new high since February.
The rise began on Wednesday evening when USA President Trump hinted that a trade agreement between the USA and UK was imminent, attracting market attention. On Thursday morning, as Trump announced the initial framework of the agreement, Bitcoin continued to rise and successfully broke the $0.1 million mark. Meanwhile, US stocks also rose across the board.
Antoni Trenchev, co-founder of the crypto trading platform Nexo, stated:
"Bitcoin not only returned to the $0.1 million mark for the first time in three months but has also once again proven its status as the 'ultimate rebound asset,' reflecting the positive impact of improved trade prospects on market sentiment."
Analysis suggests that the recent market uncertainty has actually fueled the rise of Bitcoin, as investors begin to doubt the dollar's status as a safe haven, which may continue to support Bitcoin's trend. Although the Trump administration has softened its tough rhetoric on tariff issues, the market is still waiting for a clear direction in its trade policy.
Trenchev stated,
Bitcoin is currently supported by the Trump administration's friendly attitude towards Cryptos, while spot ETF investors continue to Buy... In 2025, Bitcoin's performance relative to the USA stock market also highlights its resilience and safe-haven attributes.
Against the backdrop of an unstable Global macro and geopolitical environment, Bitcoin's ability to withstand pressure will continue to be tested. The escalating tensions between India and Pakistan carry the risk of evolving into a full-blown conflict; meanwhile, the Federal Reserve is wavering between employment and inflation and has no intention of cutting interest rates for the time being.
On Thursday, the cryptocurrency trading platform $Coinbase (COIN.US)$ its stock price rose over 5%, and the investment strategy company $Strategy (MSTR.US)$ its stock price also increased accordingly. Other cryptos also saw a rebound, although their overall performance this year has lagged behind Bitcoin. Ethereum (Ether) increased by about 18%, Solana-related tokens rose by 10%, and Dogecoin increased by 12%.
Since the beginning of April when Trump announced a new round of tariffs, Bitcoin has increased by over 17%. During the same period, spot Gold rose over 5%, while the S&P 500 Index saw a slight decline.
However, Trenchov pointed out that only when Bitcoin breaks through the January high of around $109,350 can it be considered to have truly exited the correction phase. He expects Bitcoin to oscillate in the Range of $70,000 to $109,000 in the next two months.
Nevertheless, he emphasized: "Regaining the $100,000 mark is a significant achievement for Bitcoin, and it reminds us once again — buying during periods of extreme market fear, such as when Bitcoin lingered around $74,000 last month, often leads to astonishing returns."
Editor/jayden
