Market sentiment appears to be on the mend as Bitcoin made a brief return to $84,000 earlier today, even as global equities and tech stocks faced significant declines, amid ongoing concerns regarding U.S. tariffs.
According to data from CoinGecko, Bitcoin’s price has seen a 0.8% decrease over the last 24 hours, currently trading at $82,987.32. Over the month, it has dropped 6.5%, remaining approximately 23% lower than its record high of over $109,000, reached on December 5th of last year.
Currently, 74% of users on the market prediction platform Myriad doubt that Bitcoin will regain the $84,000 level this morning, a shift in sentiment from just hours earlier. (Disclosure: Myriad is a prediction market and engagement platform created by Dastan, the parent company of the editorially independent Decrypt.)
The independent market sentiment tracker, the “Crypto Fear & Greed Index,” has switched to “Fear,” which is an improvement from yesterday’s “Extreme Fear,” a status retained for much of the previous month. The index gathers insights from diverse sources, including social media analysis and market volatility.
However, ETF inflows, another measure of institutional investor sentiment, have remained negative in recent days. Data from Farside Investors shows a $99.8 million outflow from the most popular Bitcoin ETFs yesterday.
Some analysts argue that the fate of BTC’s price in the near future is closely linked to investors’ perceptions amid the current economic volatility and tariff concerns.
Rachael Lucas, a cryptocurrency analyst at BTC Markets, remarked to Bloomberg, “The next significant movement depends on geopolitical dynamics, policy changes, and whether traders view Bitcoin as a risk or a safe haven.”
Historically correlated with the safe-haven status of gold, Bitcoin is now seen as increasingly detached from it. Several analysts speaking with Decrypt earlier this week noted that Bitcoin is behaving more like a tech stock, influenced by the growth of Bitcoin ETFs.
Other analysts posit that U.S. macroeconomic factors might dictate Bitcoin’s trajectory in the near future. Jamie Coutts, Chief Crypto Analyst at Realvision, remarked that he remains “bullish on Bitcoin” for 2025 but likened the situation to “playing a game of chicken with central banks.”
Coutts pointed to increased U.S. money supply, declining interest rates, and a weaker U.S. dollar as potential areas of concern.
Edited by Stacy Elliott.
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