Bitcoin falls to $96.8K as Trump tariffs spook markets: OM, XMR, MNT, GT show promise
Bitcoin price lost the $100,000 level, and altcoins continued to sink lower. Will OM, XMR, MNT and GT lead the recovery?
Bitcoin (BTC) fell below the $100,000 level on Feb. 2 after US President Donald Trump imposed tariffs on goods imported from China, Canada, and Mexico on Feb. 1. Increased import tariffs could boost inflation, risking higher interest rates. That could, in turn, result in a risk-off sentiment, hurting cryptocurrency prices.
Bitget Research chief analyst Ryan Lee expects Bitcoin to correct to $95,000, which is a critical support according to him. Some analysts view the current dip as a potential bear trap. Popular analyst Aksel Kibar wrote in a post on X that panic and crash forecasts after every 1% correction do not signal a market top.
Crypto market data daily view. Source: Coin360
