Despite the recent shake-up, Bitcoin fundamentals are still strong for the long-term.<\/p>\n 2 min read<\/span><\/p>\n Updated:<\/span> Feb. 3, 2025 at 11:03 pm UTC<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n Cover art\/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.<\/p>\n<\/div>\n<\/div>\n Despite Bitcoin (BTC<\/a>) reaching a daily low of $91,341.25 on Feb. 3 due to President Donald Trump\u2019s<\/a> remarks on tariffs, BTC remains structurally strong, according to the latest edition of the \u201cBitfinex<\/a> Alpha\u201d report. <\/span><\/p>\n Bitcoin surged at the beginning of the year, gaining over 10% in January and reaching an all-time high of $109,590 on Jan.20, coinciding with Trump\u2019s inauguration. However, the rally was short-lived, and Bitcoin closed January at $102,470 before entering a downward trend in early February.\u00a0<\/span><\/p>\n Since mid-November, Bitcoin has traded within a 15% range, forming two peaks near $108,000. Historical patterns suggest such ranges typically resolve within 80 days to 90 days, indicating potential for a decisive move in the coming weeks.<\/span><\/p>\n Bitcoin has mirrored US equity markets\u2019 reactions to macroeconomic developments. The S&P 500 index (SPX) formed a similar double-top pattern, with peaks occurring around Trump\u2019s inauguration and ahead of the recent US tariff announcements.<\/span><\/p>\n On Jan. 31, the US announced a 25% tariff increase on imports from Canada and Mexico and a 10% increase on goods from China. The SPX reacted by falling 0.5% to close at 6,040.53 as investors assessed potential impacts on corporate earnings and economic stability.<\/span><\/p>\n Bitcoin experienced a sharper decline, reflecting its status as a tail-risk asset. After reaching an intraday high of $106,040 on Jan. 31, it fell to $91,657 by Feb. 3.\u00a0<\/span><\/p>\n This downward pressure continued over the weekend while traditional markets remained closed. The SPX-Bitcoin correlation has strengthened, with Bitcoin\u2019s 30-day rolling Pearson correlation reaching a five-month high of 0.8.<\/span><\/p>\n As of press time, Bitcoin has notched in a solid recovery back into six-figure territory to trade at $101,631, based on CryptoSlate data.<\/p>\n Bitfinex analysts estimate that the tariff increases could reduce S&P 500 earnings by 2.8%, raise core inflation by 0.7%, and lower US GDP by 0.4%. The materials and consumer discretionary sectors, particularly companies with North American supply chains, are expected to be most affected.<\/span><\/p>\n Despite its macroeconomic sensitivity, Bitcoin has shown resilience in higher timeframes. While broader risk assets have faced corrections, Bitcoin has maintained structural support levels.\u00a0<\/span><\/p>\n It gained 9.4% in January, while traditional equity markets exhibited a more gradual upward trend.<\/span><\/p>\n Following the Republican victory in the November 2024 elections, Bitcoin and equities diverged. The S&P 500 initially declined before rebounding to new highs.\u00a0<\/span>Bitcoin, which traded near $67,000 at the time of the election, surged above $100,000 and maintained strength through January.<\/span><\/p>\n Although Bitcoin has experienced a recent pullback, it has sustained elevated price levels above key historical resistance. This suggests continued adoption and macro positioning despite short-term volatility.<\/span><\/p>\n At the time of press 11:03 pm UTC on Feb. 3, 2025<\/span>, Bitcoin<\/a> is ranked #1 by market cap and the price is up 3.91%<\/span><\/strong> over the past 24 hours. Bitcoin has a market capitalization of $2.02 trillion<\/strong> with a 24-hour trading volume of $118.62 billion<\/strong>. Learn more about Bitcoin \u203a<\/a><\/p>\n At the time of press 11:03 pm UTC on Feb. 3, 2025<\/span>, the total crypto market is valued at at $3.36 trillion<\/strong> with a 24-hour volume of $372.09 billion<\/strong>. Bitcoin dominance is currently at 60.09%<\/strong>. Learn more about the crypto market \u203a<\/a><\/p>\n<\/div>\n<\/div>\n![\"bitcoins](\"https:\/\/cryptoslate.com\/wp-content\/themes\/cryptoslate-2020\/imgresize\/timthumb.php?src=https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/02\/bitcoin-resilient.jpg&w=70&h=37&q=75\")
Bitcoin remains resilient despite recent Trump tariff shock \u2013 Bitfinex<\/span> Gino Matos \u00b7<\/span> 1 week ago<\/span> \u00b7 2 min read<\/span> <\/span> <\/span> <\/span> <\/span><\/p>\n![](\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2024\/08\/cs-gino-150x150.jpg\")
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