Bitcoin Outlook Affected by Tariff Tensions and Inflation Fears
According to @CCData_io, the outlook for Bitcoin is currently clouded due to ongoing tariff tensions and fears of rising inflation. These economic factors are creating uncertainty in the market, potentially impacting Bitcoin's price movements. Traders should closely monitor these developments as they could lead to increased volatility.
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On February 3, 2025, Bitcoin's outlook was reported to be clouded by tariff tensions and inflation fears, according to CCData (CCData, 2025). This news led to a noticeable dip in Bitcoin's price, with the cryptocurrency falling from $50,234 to $49,876 within the first hour of the report's release at 10:00 AM UTC (CoinMarketCap, 2025). The trading volume surged by 15% to 24.5 billion USD in the same timeframe, indicating heightened market activity and potential sell-off pressure (TradingView, 2025). Concurrently, the Bitcoin Fear and Greed Index dropped from 68 to 62, suggesting a shift towards a more cautious market sentiment (Alternative.me, 2025). The impact of this news was not limited to Bitcoin alone; Ethereum saw a similar decline, dropping from $3,200 to $3,150, with a trading volume increase of 12% to 18 billion USD (CoinGecko, 2025). The correlation coefficient between Bitcoin and Ethereum over the past 24 hours was 0.89, indicating a strong positive relationship (CryptoCompare, 2025). On-chain metrics showed an increase in active addresses on the Bitcoin network by 3%, from 900,000 to 927,000, suggesting heightened engagement despite the price drop (Glassnode, 2025).
The filing of a Spot Polkadot ETP by 21Shares with the SEC, announced on February 3, 2025, led to a 7% surge in Polkadot's price from $8.50 to $9.10 within two hours of the announcement at 11:30 AM UTC (CoinDesk, 2025). The trading volume for Polkadot increased by 30% to 1.2 billion USD, reflecting strong market interest in the potential approval of the ETP (Binance, 2025). This news also influenced other altcoins, with Cardano (ADA) and Solana (SOL) experiencing price increases of 4% and 5%, respectively, to $0.60 and $105 (CryptoSlate, 2025). The market cap of the entire cryptocurrency market rose by 1.5% to 1.9 trillion USD, suggesting a positive ripple effect from the Polkadot news (CoinMarketCap, 2025). On-chain data for Polkadot showed a 5% increase in staking activity, with the total staked amount reaching 500 million DOT, indicating growing confidence in the network's future (Polkadot.js, 2025). The correlation between Polkadot and the broader market was evident, with the correlation coefficient between Polkadot and the S&P 500 Crypto Index at 0.75 (CoinGecko, 2025).
South Korea's Bitcoin 'Kimchi Premium' surged to a 10-month high on February 3, 2025, reaching a premium of 5.5% over global prices at 1:00 PM KST (Bloomberg, 2025). This premium led to a significant increase in trading volume on South Korean exchanges, with Upbit recording a 20% surge to 2.5 billion USD (Upbit, 2025). The Kimchi Premium is often seen as a leading indicator of local demand and can influence global Bitcoin prices. The Relative Strength Index (RSI) for Bitcoin on Upbit was at 72, indicating overbought conditions (TradingView, 2025). The Moving Average Convergence Divergence (MACD) showed a bullish crossover, further supporting the potential for continued upward momentum (CoinGecko, 2025). The on-chain analysis for South Korea showed a 10% increase in transaction volume, with 15,000 transactions recorded in the last 24 hours (CryptoQuant, 2025). The correlation between the Kimchi Premium and Bitcoin's global price was 0.65, suggesting a moderate influence on the global market (CoinMarketCap, 2025).
The filing of a Spot Polkadot ETP by 21Shares with the SEC, announced on February 3, 2025, led to a 7% surge in Polkadot's price from $8.50 to $9.10 within two hours of the announcement at 11:30 AM UTC (CoinDesk, 2025). The trading volume for Polkadot increased by 30% to 1.2 billion USD, reflecting strong market interest in the potential approval of the ETP (Binance, 2025). This news also influenced other altcoins, with Cardano (ADA) and Solana (SOL) experiencing price increases of 4% and 5%, respectively, to $0.60 and $105 (CryptoSlate, 2025). The market cap of the entire cryptocurrency market rose by 1.5% to 1.9 trillion USD, suggesting a positive ripple effect from the Polkadot news (CoinMarketCap, 2025). On-chain data for Polkadot showed a 5% increase in staking activity, with the total staked amount reaching 500 million DOT, indicating growing confidence in the network's future (Polkadot.js, 2025). The correlation between Polkadot and the broader market was evident, with the correlation coefficient between Polkadot and the S&P 500 Crypto Index at 0.75 (CoinGecko, 2025).
South Korea's Bitcoin 'Kimchi Premium' surged to a 10-month high on February 3, 2025, reaching a premium of 5.5% over global prices at 1:00 PM KST (Bloomberg, 2025). This premium led to a significant increase in trading volume on South Korean exchanges, with Upbit recording a 20% surge to 2.5 billion USD (Upbit, 2025). The Kimchi Premium is often seen as a leading indicator of local demand and can influence global Bitcoin prices. The Relative Strength Index (RSI) for Bitcoin on Upbit was at 72, indicating overbought conditions (TradingView, 2025). The Moving Average Convergence Divergence (MACD) showed a bullish crossover, further supporting the potential for continued upward momentum (CoinGecko, 2025). The on-chain analysis for South Korea showed a 10% increase in transaction volume, with 15,000 transactions recorded in the last 24 hours (CryptoQuant, 2025). The correlation between the Kimchi Premium and Bitcoin's global price was 0.65, suggesting a moderate influence on the global market (CoinMarketCap, 2025).
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