Bitcoin experienced intense volatility, surging above $88,000 before plunging below $82,000 within hours, due to new tariffs announced by U.S. President Donald Trump, causing fear across global markets and impacting investor sentiment.
Despite large Bitcoin purchases, including Michael Saylor's $2 billion investment, a slight Coinbase Spot Discount still persists, indicating weaker U.S. investor demand and relatively flat ETF flows.
Bitcoin is currently at a crucial crossroads, struggling to regain higher ground above $89,000 and facing significant support at $80,000.
The market is eagerly waiting for a catalyst to break the current deadlock and determine whether Bitcoin will rebound towards new highs or continue its slide amidst economic uncertainty.