This Week in Bitcoin: BTC Holds Steady as Trump's Trade War Wrecks Stocks
Bitcoin continues to hold steady at around $82,876 amid President Trump's escalating trade war, which has negatively impacted the stock market. Recent tariffs announced by Trump have raised concerns about potential recession and market instability. Despite the broader financial turmoil, Bitcoin has shown resilience, remaining nearly unchanged over the past week while major indices suffered declines. Experts suggest that Bitcoin's stability may present a buying opportunity for investors, given its current price is about 24% lower than its all-time high of $109,000 from January. Additionally, Bitcoin ETFs experienced outflows totaling $165 million this week, reflecting cautious investor sentiment. On a more positive note, crypto asset manager Grayscale has launched two new Bitcoin ETFs, aiming to provide innovative investment options without direct exposure to Bitcoin. Market predictions remain optimistic, with some analysts forecasting a potential rebound to $200,000 by the end of the year.
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