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Bitcoin is currently trading just above $80,000, following a brief rally to $83,000 yesterday that sparked renewed investor optimism. Despite the 4.1% gain over the past day, the asset remains more than 25% below its all-time high of over $109,000 set in January.
One of the latest developments influencing the current sentiment came from US President Donald Trump, who posted, “This is a great time to buy,” shortly before a 90-day suspension on new tariffs was announced. The pause led to a sharp reaction across financial markets.
Bitcoin jumped over 10%, while the S&P 500 and NASDAQ saw daily gains exceeding 11% and 14%, respectively. According to CryptoQuant analyst Maartunn, this development mirrors a similar episode in 2009 when then-President Barack Obama encouraged long-term stock investments amid a market downturn.
That historical parallel saw the S&P 500 begin a multi-year rally, raising the question of whether Trump’s second term might trigger a similar bullish cycle.
Historic Parallels and Their Potential Impact on Bitcoin
Maartunn emphasized the potential for policy-driven sentiment shifts to play a role in Bitcoin’s future price trajectory. Drawing comparisons to the market response following Obama’s 2009 comments, the analyst suggests that investor psychology, coupled with fiscal strategy, could significantly affect market direction.
The implications are not just isolated to equities but also extend to crypto markets, as demonstrated by Bitcoin’s strong correlation with traditional financial indices during major policy shifts.
While no trajectory is guaranteed, the market’s reaction to political cues highlights Bitcoin’s growing entrenchment in broader macroeconomic trends. Maartunn wrote:
Could the remainder of Trump’s second term mirror Obama’s first, when the market surged roughly 75% over four years? The parallels are there—but nothing is guaranteed. This chart will be one to watch closely in the coming months.
Hashrate Hits Record as Fundamentals Strengthen
Separately, CryptoQuant analyst Yonsei Dent pointed out an important underlying development. Despite Bitcoin’s decline from its $109K peak to around $80K, both the network hashrate and mining difficulty have reached all-time highs.
These metrics suggest that Bitcoin’s network security and miner confidence remain strong, even during price drawdowns. While increased mining difficulty implies greater costs for miners, it also reflects heightened participation and belief in Bitcoin’s long-term value.
The network’s resilience in the face of price volatility may offer a stabilizing factor as market sentiment continues to fluctuate. Dent cited CryptoQuant CEO Ki Young Ju who noted that Bitcoin’s hashrate could serve as a proxy for its intrinsic value.
He posited that, based on current mining trends, Bitcoin’s potential market cap could reach as high as $5 trillion. Notably, with the asset currently holding a $1.6 trillion valuation, Bitcoin’s upside remains considerable should fundamentals continue to align with investor confidence.
Featured image created with DALL-E, Chart from TradingView
Meet Samuel Edyme, Nickname – HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.
Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.
Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.
When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)
Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.
In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.
Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think’s probably unfeasible, I’ve done already a hundredfold.”
PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.
Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
