The easing of trade tensions between the U.S. and Mexico has injected optimism into the cryptocurrency market, with Bitcoin nearing the $100,000 milestone. This development follows Mexico's commitment to deploying troops to the U.S. border, alleviating fears of a trade war and boosting crypto prices. The potential removal of U.S. tariffs against Mexico has further calmed market nerves, contributing to a positive sentiment. Despite a recent liquidation event, analysts view the current market conditions as a potential 'buy-the-dip' opportunity, supported by Bitcoin's historical February performance and a bullish flag pattern on the charts.
The ProShares Bitcoin Strategy ETF (BITO) experienced a decline, dropping 2.54% to $23.05 at 11:20 AM on Monday, February 3.