So close yet so far – that’s the story for bitcoin (BTC) this Friday morning, as its price rally has stalled just shy of record highs amidst a continued rally in gold (XAU), a traditional risk asset, and crypto tokens associated with it.
BTC, the leading cryptocurrency by market value, changed hands near $104,400 at press time. Bitcoin prices are just 4.7% short of setting a new lifetime high, according to CoinDesk data.
President Trump’s reiteration of the tariffs threat looks to have clipped BTC’s wings. While some fear an extended sell-off before the next big bullish wave unfolds, action in the onchain derivatives market suggests otherwise.
“While some crypto leaders are betting on BTC to fall before rallying towards $250K later this year, the Derive.xyz market remains skeptical. In fact, there’s a 9.7% chance of BTC falling below $75K before March and an even less likely 4.4% chance that it will swing over $250K before…
