Bitcoin's price movement today is influenced by a mix of geopolitical tensions and market dynamics. The ongoing trade war between the U.S. and China has heightened risk aversion, leading to a preference for safe-haven assets like gold, which has surged to new highs. This shift in investor sentiment has put downward pressure on Bitcoin, as traders seek to mitigate risk amid uncertainty. Additionally, the Trump administration's delay in implementing a strategic Bitcoin reserve plan has disappointed investors, contributing to the cryptocurrency's struggle to maintain momentum above the $100,000 mark.
Despite these challenges, Bitcoin has shown resilience, buoyed by institutional support and strategic moves by countries like El Salvador, which continues to accumulate Bitcoin. The country's recent purchase of 20 BTC in a week underscores its commitment to the cryptocurrency, even as market jitters persist. Meanwhile, the U.S. market is seeing significant inflows into Bitcoin ETFs, with BlackRock's fund reporting a net inflow of $249 million, indicating sustained institutional interest.
Bitcoin's price has increased by 0.84% today, reaching $98,628.57, with a high of $98,828.83 and a low of $97,251.81.