Bitcoin (BTC) is approaching the $100,000 mark, reaching its highest price since late February. This rally follows a period of downward pressure attributed to Donald Trump's tariff policies, which impacted both stock and digital asset markets.
Bitcoin faced a 30% decline, dropping towards $74,000 after hitting approximately $109,000 on January 20. However, the market has seen Bitcoin climb as much as 3.1% to reach a weekly high of $97,483, marking the highest level since February 21.
Exchange-traded funds (ETFs) tracking Bitcoin and Ethereum (ETH) have attracted significant inflows, with over $3.2 billion entering the market last week alone. BlackRock's Bitcoin Trust ETF (IBIT) recorded nearly $1.5 billion in inflows, marking its highest weekly intake for the year.
Ethereum has shown a steady recovery over the past week, regaining the $1,800 level as a key support. The price of ETH has seen a 14% surge in the fourteen day time frame, boosting the potential for further recovery towards $2,000.