Bitcoin’s price is up a tad, trading above $84,300 Tuesday after settling Monday. It took a 4.29% dip last week. Crypto Finance notes its dominance climbed to 61.4%, a sign it’s the go-to asset in choppy markets. That’s giving it a lift.
Still, traders should keep an eye out—Trump’s tariffs, economic jitters, and stagflation talk could pull it lower, especially with stocks acting shaky in this risk-off slump.
Tether’s $735M BTC Grab Fuels 61.4% Dominance
Tuesday’s Crypto Finance report says Bitcoin’s dominance rose to 61.4%. That reflects folks turning to BTC as the tougher option amid market stress, aiding its recovery. Tether, behind the USDT stablecoin, withdrew 8,888 BTC—$735 million—from Bitfinex’s hot wallet Tuesday.
Their Bitcoin reserve’s now at 92,647 BTC, worth $7.65 billion, ranking sixth among wallets. Pulling that from exchanges means less sell-off risk, a decent boost for Bitcoin’s price.
Economic Uncertainty Might Throw Bitcoin a Curveball
Monday’s Kobeissi Letter pegs the US Trade Policy Uncertainty Index at 25%. That beats the high from Trump’s Trade War 1.0—uncharted territory. Ray Wang’s chart flags tariffs on the EU hittingidelberg $600 billion in imports. That could cut US GDP by 70 basis points and bump inflation by 40. Kobeissi thinks stagflation’s kicked off, and Goldman Sachs sees a 35% recession shot in the next year.
https://x.com/KobeissiLetter/status/1906716557029331002?t=fd7CARm3AHwZGVwlsr6O7Q&s=19
With stocks wobbly, Bitcoin could face short-term pressure. Down the road, it might shine as a shield against inflation and a fading dollar if the Fed softens.
$84,300 and Climbing: What’s the Next Stop?
Last week, Bitcoin price predictions hung out between $85,000 and $88,000. It dipped below that bottom edge Friday, dropping 5.53% by Sunday. Monday it leveled off at $82,500.
Tuesday, it’s above $84,300. RSI’s reading 45, heading toward 50—bearish steam’s cooling. It’s got to break 50 for the rally to kick in. MACD lines are tangled up, so traders are stumped. If it pushes on, $85,000’s in sight. If it falters, $78,258 could catch it.
