Bitcoin’s price has stabilized around $94,000 as of May 6, 2025, reflecting investor caution amid escalating trade tensions and economic uncertainties. The cryptocurrency experienced a slight decline of 0.4%, trading at approximately $94,375.70.
The market’s subdued performance is attributed to several factors:
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Trade Tensions: Ongoing U.S.-China trade disputes have heightened investor anxiety, with recent statements from both nations indicating a lack of progress in negotiations.
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Economic Indicators: Signs of slowing global economic growth have further dampened market sentiment, leading to cautious trading behaviors.
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Tariff Announcements: President Trump’s plans to impose additional tariffs, particularly on pharmaceutical imports, have contributed to market volatility.
In the broader cryptocurrency market, major altcoins have mirrored Bitcoin’s performance:
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Ethereum (ETH): Down 0.7% to $1,803.15.
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Solana (SOL): Decreased by 1.7%.
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Cardano (ADA): Fell by 4.3%.
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Polygon (MATIC): Dropped 5.6%.
Meme tokens also experienced declines, with Dogecoin falling 2.5% and the $TRUMP token decreasing by nearly 3%.
