Bitcoin price today: rises to $85.5k amid Trump tariff relief hopes

Bitcoin price today: rises to .5k amid Trump tariff relief hopes

The cryptocurrency market is witnessing another bullish surge as Bitcoin (BTC) climbs to $85,500, fueled by growing optimism over potential Trump-era tariff relief and broader macroeconomic tailwinds. Investors are increasingly betting on Bitcoin as a hedge against economic uncertainty, while political developments in the U.S. add further momentum to the rally.

In this article, we’ll break down:
✅ Bitcoin’s latest price movement
✅ How Trump’s tariff policies could impact crypto
✅ Key factors driving BTC’s upward trend
✅ Expert predictions for Bitcoin’s next move


Bitcoin Price Update: BTC Hits $85.5K

As of today, Bitcoin is trading at $85,500, marking a 5% increase over the past 24 hours. The rally comes amid:

  • Renewed hopes for U.S. tariff reductions under a potential Trump administration
  • Weaker-than-expected U.S. job data, increasing bets on Fed rate cuts
  • Institutional inflows into Bitcoin ETFs, with BlackRock’s IBIT leading the charge

Bitcoin’s market cap has now surpassed $1.68 trillion, solidifying its position as the dominant cryptocurrency.

Bitcoin Price Analysis: Key Levels to Watch

  • Support: $82,000 (previous resistance now acting as support)
  • Resistance: $88,000 (next major psychological barrier)
  • If BTC breaks 88K∗∗,analystspredictaruntoward∗∗95,000 before the next halving.

Why Trump’s Tariff Relief Hopes Are Boosting Bitcoin

Former President Donald Trump has hinted at potential tariff reductions if re-elected, a move that could ease trade tensions and boost market liquidity. Here’s why this matters for Bitcoin:

1. Weaker Dollar = Stronger Bitcoin

  • Tariff cuts could weaken the U.S. dollar (DXY) as trade deficits expand.
  • Bitcoin, as a dollar alternative, tends to rise when the USD weakens.

2. Increased Liquidity in Markets

  • Lower tariffs may encourage more foreign investment into U.S. assets, including crypto.
  • Bitcoin benefits from excess liquidity, as seen in past stimulus-driven rallies.

3. Political Uncertainty Favors BTC

  • Trump’s pro-crypto stance (recently accepting Bitcoin donations) is seen as bullish for adoption.
  • Investors view Bitcoin as a hedge against policy shifts, whether tariffs or inflation.

Other Factors Driving Bitcoin’s Rally

Beyond political developments, several macroeconomic and on-chain factors are supporting BTC’s surge:

1. Fed Rate Cut Expectations

  • Soft U.S. jobs data has increased bets on a September rate cut.
  • Lower interest rates typically boost risk assets, including Bitcoin.

2. Bitcoin ETF Demand Remains Strong

  • Spot Bitcoin ETFs have seen 18 consecutive days of net inflows.
  • BlackRock’s IBIT alone holds over 300,000 BTC, reducing market supply.

3. Bitcoin Halving Effect

  • The next halving (April 2024) will cut Bitcoin’s supply growth in half.
  • Historically, BTC rallies 6-12 months post-halving, suggesting $100K+ is possible in 2025.

Expert Predictions: Where Is Bitcoin Headed Next?

Crypto analysts are increasingly bullish on Bitcoin’s prospects:

  • Standard Chartered reiterates its $150K Bitcoin price target for 2024.
  • Tom Lee (Fundstrat): “Bitcoin could hit $100K before year-end if macro conditions align.”
  • Michael Saylor (MicroStrategy): “Bitcoin is the ultimate inflation hedge, and institutional demand is just starting.”

However, some warn of short-term volatility:

  • CryptoQuant notes that exchange reserves are rising, which could signal selling pressure near $88K.

Conclusion: Is Bitcoin Heading to $100K?

Bitcoin’s surge to 85.5K∗∗reflectsacombinationof∗∗politicaloptimism,macroeconomicshifts,andstronginstitutionaldemand∗∗.Withthe∗∗halvingapproaching∗∗andpotential∗∗Fedratecuts∗∗,thepathto∗∗100,000 seems increasingly plausible.

Key Takeaways:

✔ Bitcoin’s price is 85,500∗∗,up5✔AweakerdollarandETFinflowsare∗∗fuelingtherally∗∗.✔Analystspredict∗∗100K+ by 2025, but watch for resistance at $88K.

What’s Next?

  • If Bitcoin breaks 88K∗∗,thenexttargetis∗∗95K.
  • A pullback to $82K could offer a buying opportunity.

Will Bitcoin hit $100,000 this year? Only time will tell, but the current momentum suggests the bull run is far from over.


What do you think? Will Bitcoin reach $100K in 2024, or is a correction coming? Let us know in the comments! 🚀

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