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Click here to find out why analysts believe XRP could skyrocket—or crash—based on the SEC’s decision.
Bitcoin in Sideways Loop Amid Tariff Uncertainty
Beyond Ripple and XRP, bitcoin (BTC) remained a focal point. Since President Trump first announced plans for tariffs on Canada, China, and Mexico on January 31, BTC has struggled to reclaim the crucial $100k mark, finding itself in a sideways loop.
Trump’s tariffs could increase US import costs and inflation, potentially leading to a more hawkish Fed rate path. A higher-for-longer Fed rate may raise borrowing costs, impacting risk assets, including BTC.
US economic data has also pegged BTC back from the $100k level. In January, a pickup in inflationary pressures tempered bets on an H1 2025 Fed rate cut amid tariff uncertainty. The US BTC-spot ETF market reflected sentiment toward the Fed rate path, ending a six-week inflow streak in the week ending February 14.
Bitcoin Price Outlook
On February 16, BTC dropped 1.51%, reversing Saturday’s 0.14% gain, closing at $96,225. Significantly, BTC fell short of the $100k level for the ninth consecutive session.
Looking ahead, it could be a pivotal week for BTC and the broader crypto market. Key BTC catalysts include:
- US Economic Data: Jobless claims report (February 20) and Services PMI (February 21).
- FOMC Commentary: insights into inflation, the labor market, and the Fed rate path.
- US Tariff policies: Trade tensions and economic impact.
- Strategic Bitcoin Reserve (SBR) Developments: Updates on the US government’s approach to BTC reserves.
Possible BTC Price Scenarios:
- Bearish: Sweeping US tariffs, upbeat US data, a hawkish Fed, and resistance to a US SBR could drag BTC toward $90,000.
- Bullish: Weaker US data, a dovish Fed, easing tariff tensions, and SBR progress could push BTC toward its all-time high of $109,312.
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