Bitcoin’s price has slipped below the $95,000 mark, reflecting market apprehensions surrounding global trade tensions and economic uncertainties. As of May 5, 2025, Bitcoin is trading at approximately $94,600, marking a 1.7% decline from the previous day.
Market Dynamics:
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Trade Tensions: The absence of concrete developments in U.S.-China trade negotiations has led to cautious sentiment among investors. President Trump’s recent statements indicate no immediate plans for talks with Chinese leadership, contributing to market hesitancy.
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Economic Indicators: Broader economic indicators suggest a holding pattern in Bitcoin’s price, with the cryptocurrency trading within a range of $92,000 to $97,000 over the past week. This stability is attributed to a combination of factors, including cooled capital flows into U.S.-traded spot exchange-traded funds and a general decline in risk appetite amid tariff concerns.
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Altcoin Performance: Other cryptocurrencies are also experiencing downward pressure. Ethereum has decreased by 2.1% to $1,806.94, while XRP has fallen by 1.7% to $2.1705. Solana has seen a modest increase of 0.2%, whereas Cardano has declined by 2.8%. Meme tokens like Dogecoin have shed 2%, and the $TRUMP token has risen slightly by 0.3% after recent losses.
