Don’t Miss This: Bitcoin’s Price Bounces Sky High Thanks to Trump and Tariffs!

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So, Bitcoin just decided to take a little hop to $102,599 on Monday. And why? Because President Trump pulled a classic move and delayed tariffs on Canada and Mexico. That’s right, folks – the world of finance has turned into a game of delay and pray! 🤑

Feels like everyone suddenly got this burst of optimism. I swear, it’s like American investors just saw an “all you can eat” buffet sign and went nuts, pushing the Coinbase Premium Index to its highest level of the year. Crazy, right?

US Investors Are Like Kids in a Candy Store

The Coinbase Premium Index has climbed to a cozy 0.12. That’s a stunning 700% jump after Trump decided to be Mr. Nice Guy for a month. I mean, seriously? A month’s delay? What is this, a reality TV show? 📺

And guess what? Now the American investors are back in business, scooping up Bitcoin like it’s Black Friday. Buying pressure is through the roof, folks! The Index is strutting its stuff at levels we haven’t seen since the beginning of the year. 

Now, don’t get all technical on me! The Coinbase Premium Index basically tells us if American investors are spending a little extra for Bitcoin compared to Binance. When it’s up, they’re buying like crazy. When it’s down? Yeah, not so much. 

Having a positive index is like getting the green light at a traffic signal. Everyone’s racing to grab BTC, pushing prices higher! 🚀 But once that signal flips, look out – it’s back to the slow lane of trading.

And here comes our friend CryptoQuant analyst Avocado_onchain—yes, Avocado because why not? They say Bitcoin’s Short-Term Spent Output Profit Ratio (STH-SOPR) shows that the market’s in a cozy spot. Panic selling? Not today, my friend!

It’s all about whether the short-term folks are cashing in or crying over spilled milk. According to Avocado-on-the-Chain, people aren’t losing their minds and selling at a loss like before. Calm, cool, collected. Is this the new normal?

“Look, sure, if some global disaster like the COVID-19 crash pops up uninvited, we might see a big correction. But for now, price drops are likely to be just a little hiccup, around 20-30%, before it’s back to bullish business,” the analyst remarked. Yeah, right! Let’s hope they’re onto something. 

Bulls or Bears: What’s Next for BTC’s Price?

So, right now, BTC is at $98,463, chilling just below a resistance wall at $102,538. Trump’s little tariff tease has traders gearing up, but don’t get too excited. The MACD is giving off ‘bearish vibes,’ like, “Dude, not today.”

The MACD line (you know, the blue one) is below its signal line (that’s the orange one). This situation screams bearish momentum—like walking into a party and realizing you’re the only one not wearing a costume. Ouch! 💔

If this downward trend keeps going, we might see BTC dragging itself down to $95,513. No thanks! Let’s keep the balloons in the air!

But wait! If the bulls shake off their nap and take control, we could see BTC break that $102,538 threshold and make a play for its all-time high of $108,388. Fingers crossed, folks! 🙏

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2025-02-04 12:47