Bitcoin Price Analysis: BTC Flat As President Trump Announces New Trade Tariffs
Bitcoin (BTC) failed to maintain its position above $117,000, slipping back into bearish territory and dropping nearly 1% on Friday. Price Action has remained flat over the past 24 hours, after President Trump announced a slew of new trade tariffs.
BTC is marginally down over the past 24 hours, trading around $115,550.
Bitcoin (BTC) Hashrate Climbs To 976 EH/S
Bitcoin’s hashrate surged to 976 EH/S on Friday afternoon, just 24 EH/S shy of the 1 zettahash (ZH/S) threshold. According to Hashrateindex.com, the hashrate kept rising, reaching 976 EH/S only ten blocks before the next difficulty adjustment based on the seven-day simple moving average (SMA). The seven-day SMA provides a standardized snapshot that helps keep analysis consistent. The hashrate clocked 972 EH/S at 2:05 PM Eastern Time, with Foundry reaching an impressive 278 EH/S. Antpool accounted for 175 EH/S while ViaBTC reached 128 EH/S.
Bitcoin’s push towards the 1 ZH/S mark is a pivotal moment for the network, and gives a glimpse into the scale of resources backing the network’s security.
Acacia Research To Develop Bitcoin-Backed Loan Strategy
Acacia Research has announced a partnership with Unchained Capital, a Bitcoin financial services platform, and Build Asset Management, an investment advisor specializing in Bitcoin-focused strategies. The partnership aims to develop a Bitcoin-backed commercial loan strategy by acquiring commercial whole loans collateralized by Bitcoin (BTC). Acacia Research is a publicly-listed company that specializes in acquiring and operating businesses across the industrial, energy, and technology sectors.
The partnership will allow Acacia to access risk-adjusted returns through fully recourse loans, leveraging Bitcoin as collateral. Acacia Research CEO Martin D. McNulty highlighted the partnership’s potential to generate value for shareholders and allow Bitcoin holders to maintain ownership of the asset while accessing liquidity.
Harvard Reveals Investment In BlackRock ETF
Harvard University and Brown University have become the latest major institutions to buy Bitcoin (BTC) through regulated investment vehicles. According to a 13F form filed with the United States Securities and Exchange Commission (SEC), the Harvard Management Company, a wholly-owned subsidiary of the university, has a $116 million investment in BlackRock’s iShares Bitcoin Trust. Brown University has also increased its exposure to the flagship cryptocurrency, increasing its position in the ETF. The university now holds $13 million worth of shares.
Crypto ETFs like BlackRock’s Bitcoin Trust allow investors to gain exposure to Bitcoin without having to store and own the asset. BlackRock’s IBIT is the most successful crypto ETF, receiving more inflows than any other crypto ETF with over $86 billion in assets under management.
Bitcoin (BTC) Price Analysis
Bitcoin (BTC) is back in the red during the ongoing session, as markets exhibited a muted reaction to President Trump’s latest round of tariffs. BTC is marginally down, as it continues to hover around $116,500 after a brief spike past $117,000. Trump’s latest round of tariffs left several countries scrambling to strike a deal with the administration. Switzerland was hit with a 39% tariff while Canada was hit with a 35% tariff.
Institutional demand and macroeconomic market dynamics are reshaping BTC’s price cycles, with analysts stating that BTC’s four-year halving cycle, where peaks occur a year after the halving event, is showing signs of changing. The change is being attributed to US spot Bitcoin ETFs, institutional interest, and a more mature market structure.
“Bitcoin has typically traded in a four-year price cycle centered around an event called the halving. But more recently, that cycle, which has often had a predictable pattern, has shown signs of breaking or even disappearing altogether.”
Previous cycles have seen BTC dip over 70%. However, the flagship cryptocurrency has seen only a 26% correction this time around. Experts expect future pullbacks to be around 30% to 50%, with Bitcoin becoming increasingly attractive to institutional investors.
BTC started the previous weekend in the red, dropping over 2% and settling at $113,365. Sellers retained control on Saturday as the price fell 0.67%, slipping below $114,000 to $112,601. Despite the overwhelming selling pressure, BTC recovered on Sunday, rising 1.52% to reclaim $114,000 and settle at $114,311. The price continued pushing higher on Monday, rising 0.69% to cross $115,000 and settle at $115,097. Selling pressure returned on Tuesday as BTC plunged to an intraday low of $112,707. However, it rebounded from this level to reclaim $114,000 and settle at $114,135, ultimately registering a 0.84% drop.
Source: TradingView
Price action was back in positive territory on Wednesday as BTC rose nearly 1% to reclaim 4115,000 and settle at $115,051. Bullish sentiment intensified on Thursday as the price rallied, rising over 2% to cross $117,000 and settle at $117,483. BTC lost momentum on Friday, dropping 0.83%, slipping below $117,000 to $116,512. The current session sees BTC marginally up as buyers and sellers struggle to establish control.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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