Analysis: Trump's Davos speech may set the market tone, Bitcoin remains volatile below $90,000
Odaily reported that Bitcoin has slightly rebounded from its overnight low but is still trading within the $90,000 range. Analysts believe that the trend in gold prices indicates the US dollar's status as a reserve currency is "rapidly weakening," while Bitcoin's performance has been "disappointing and continues to face selling pressure." Another factor contributing to increased volatility comes from US President Trump, who recently proposed that the US should control Greenland and issued new tariff threats to several European countries. This could make it "difficult for Bitcoin to regain momentum." In an environment of cooling risk appetite, Bitcoin has not played a hedging role but is instead being traded as a high-beta risk asset, making it highly sensitive to interest rates, geopolitical events, and cross-market volatility. Trump's speech at Davos may set the tone for the market's next move. (CoinDesk)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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