PiCK

[Market] Bitcoin regains $69,000 level…extends gains after Trump ultimatum

Source

Suehyeon Lee

Summary

It reported that Bitcoin (BTC) has recovered to the $69,000 level after an ultimatum from U.S. President Donald Trump.
It said major altcoins, including Ethereum (ETH) and XRP (XRP), are also posting gains in tandem.
It reported that the market is interpreting Bitcoin’s upward trend despite geopolitical tensions as evidence that short-term supply and demand remains intact.

Forecast Trend Report by Period

Bitcoin (BTC) appears to have recovered to the $69,000 level, extending its upward momentum after an ultimatum issued by U.S. President Donald Trump.

As of 8:38 a.m. on the 6th (Korea time), Bitcoin was trading at $69,038.87, up 2.57% from the previous day, according to CoinMarketCap. On Upbit’s KRW market, it was trading at 104,323,000 won, up 2.11% from the previous day.

Major altcoins, including Ethereum (ETH), are also rising in tandem. Ethereum was up 2.51% day on day to $2,115.05 on CoinMarketCap, while XRP (XRP) was up 0.88% to $1.32.

Around 12:30 a.m. (Korea time) that day, President Trump called for the reopening of the Strait of Hormuz and mentioned the possibility of strikes on Iran’s energy infrastructure. About an hour later, he set a deadline of 9:00 a.m. on the 7th (Korea time), saying, “If the strait is not opened, I will strike power plants.”

Market participants are focusing on the fact that Bitcoin is instead showing an upward trajectory despite the tough rhetoric. Some interpret the rebound amid heightened geopolitical tensions as a sign that short-term supply and demand remains intact.

BTC

ETH

XRP