The price adjustment of Bitcoin, which was approaching $120,000, is prolonging.
According to CoinMarketCap, a global cryptocurrency market tracking site, the price of Bitcoin was trading at $105,587 as of 8 a.m. on the 2nd. This is an increase of 0.97% compared to the previous day. At the same time, Ethereum was trading at $2,540, reflecting a 0.42% rise from the previous day.
Bitcoin first surpassed the $110,000 mark on the 22nd of last month, rising to $119,900, but it plummeted as the Donald Trump administration showed signs of escalating a tariff war globally. On the 31st, it even fell below $105,000.
Cryptocurrency news outlet CoinTelegraph noted, "The recent weakness of Bitcoin is likely due to macroeconomic factors," adding, "The trade war led by President Trump is making investors more risk-averse." However, it also stated, "Looking at derivative data, professional investors are maintaining an optimistic outlook on future price increases."