Bitcoin Price Prediction Today February 6

Bittime - Bitcoin continues to be a digital asset that attracts attention with its dynamic price movements every day. Today's Bitcoin price analysis and predictions provide important insights for investors to understand the latest market trends. 

Influenced by market sentiment, global news, and technical indicators, Bitcoin offers both great opportunities and challenges for those immersed in the world of crypto. 

In this article, we will review the latest predictions, technical analysis, and factors that influence Bitcoin prices, so you can always be ready to face market changes.

Bitcoin Price Performance Today 

On February 5 2025, Bitcoin price is trading in a range $97,713,32 take notes -0.77% decline in Last 24 hours. The market is showing volatility with daily lows at $100,747.89 and highest in $96,160,86. Bitcoin's total market capitalization stands at approx US$1.934.722.773.495,56.

Overall, despite significant headwinds and price fluctuations, the data shows that investor interest in Bitcoin remains strong and optimism regarding its future prospects remains.

Price BTC to USDT via Market Bittime

Historical Bitcoin Price Movements

Bitcoin has experienced significant growth over the past year, with a notable increase of approx 141,83% since January 2024, when the price is approx $42.461. This cryptocurrency hit an all-time high in $109.588 before Donald Trump's inauguration on January 20, 2025. This surge reflects bullish market sentiment, driven by expectations of pro-crypto policies from the new administration.

On February 5, 2025, Bitcoin price is trading in a range $97,713,32 take notes -0.77% decline in Last 24 hours. The market is showing volatility with daily lows at $100,747.89 and highest in $96,160,86. Bitcoin's total market capitalization stands at approx US$1.934.722.773.495,56.

Overall, despite significant headwinds and price fluctuations, the data shows that investor interest in Bitcoin remains strong and optimism regarding its future prospects remains.

Read too Bitcoin (BTC) Price Prediction: Comprehensive Analysis

Factors Affecting Bitcoin Prices

The tariff policy implemented by China on US products has had a significant impact on the market for Bitcoin and other crypto assets. The following is an analysis of the influence of this policy and other factors that also play a role:

Effects of US-China Tariff Policy

Market Reaction to Tariffs

After US President Donald Trump announced a 10% tariff on products from China, Bitcoin prices saw a sharp decline. On February 3, 2025, the price of Bitcoin fell to USD 93,768,66, reflecting the direct impact of these trade tensions. This decline occurred amid investor concerns about the uncertainty caused by the trade war.

Tariff Reaction from China

China responded by imposing 10% tariffs on certain US goods, including crude oil and agricultural machinery. This move further worsened market sentiment and increased the volatility of Bitcoin prices, which fell below USD 100,000 on February 4, 2025.

Long Term Impact

Analysts predict that this tariff war could weaken the US dollar exchange rate in the long term, which in turn could make Bitcoin more attractive as a hedge asset. However, in the short term, uncertainty surrounding the trade war is likely to make investors more cautious.

Other Factors Affecting Bitcoin Prices

Investor Sentiment

Global uncertainty resulting from the trade war has made many investors avoid risky assets such as Bitcoin. This can be seen from the decline in open interest in Bitcoin futures contracts on derivatives exchanges.

Global Economic Conditions

Apart from tariff factors, global economic conditions such as inflation and interest rates also influence investment decisions in Bitcoin. If inflation increases, investors may look for safe assets such as Bitcoin.

Technological and Regulatory Developments

Innovations in blockchain technology and government policies regarding cryptocurrencies also play an important role in determining the direction of Bitcoin prices. More supportive regulations could increase investor confidence and push prices up.

Conclusion

The tariff policy between the US and China has caused significant volatility in the Bitcoin market, with the price experiencing a decline due to the resulting uncertainty. Additionally, global economic factors and investor sentiment also contribute to the current Bitcoin price dynamics. Looking ahead, developments in trade policy and economic conditions will continue to influence the crypto market as a whole.

Read too Everything Happening to Bitcoin Through 2024: BTC ETFs, Trump, and the All-Time High

Bitcoin Support and Resistance Levels (Latest Data February 5, 2025)

Nearest Support Level

$98,000

Currently, the nearest support level for Bitcoin is around $98,000. If this level is broken, it is likely to test the psychological level of $95,000.

Key Resistance Levels

$103,600

The current key resistance level is $103,600. A break of this level with strong volume could pave the way for a bullish trend towards $110,000 and beyond.

Relative Strength Index (RSI)

69

The RSI is currently at 69, indicating positive momentum and supporting potential further upside. Nonetheless, there are warnings about a potential bull trap given recent volatile market conditions.

Analysis of Bitcoin Predictions for February 6, 2025

Bitcoin is expected to experience significant movement after a period of volatility that occurred at the end of January. Some factors that influence this analysis include:

Bullish Scenario

Condition: If Bitcoin manages to break the resistance level at $103,600 and maintains momentum above $102,000.

Support: Driven by continued increasing institutional interest and positive sentiment from the market.

Potential Surge: There is potential for a significant price spike if this level is successfully broken.

Bearish Scenario

Condition: If Bitcoin falls below the support level at $98,000.

Impact: This could trigger deeper profit-taking, with target support at around $95,000.

Further Decline: May lead to a test of the psychological level at $92.324.

Consolidation Scenario

Condition: Bitcoin may move sideways between $98,000 and $103,600.

Evaluation: Investors will evaluate the impact of the latest economic news and monetary policy.

Bitcoin Price Prediction for February 6, 2025

The Bitcoin price prediction shows the potential for an interesting move with the price expected to be around $102,000 until $110,000, depending on the ability to break through major resistance. Mixed market sentiment and recent liquidation action are key factors in this projection.

Overall, current market conditions show uncertainty with selling pressure still existing. However, there are also positive signals of increased institutional interest. Therefore, monitoring price developments in the next few days is very important to determine the right trading strategy

Read too How to Buy Bitcoin (BTC)

Conclusion

The conclusion of the Bitcoin price analysis for February 6, 2025 shows that the market is in positive momentum with the price approaching a key resistance level at $107,000 supported by the RSI which is at 69, indicating bullish potential if this resistance is successfully penetrated. 

However, the downside risk remains if Bitcoin fails to maintain the important support level at $102,000, which could trigger further selling to test the psychological level at $100,000 or even $95,000. 

Current market sentiment tends to be mixed, with increased institutional interest a positive driver, but selling pressure and macroeconomic uncertainty remain threats. 

Therefore, although there is a chance of an increase towards $110,000 or higher, investors are advised to remain cautious and monitor market developments closely in anticipation of significant movements in any direction.

FAQ

1. What is the current price of Bitcoin and how is it moving?

Bitcoin price is currently at $97,713.32, noted a decrease of -0.77% in Last 24 hours. This decline reflects the selling pressure that is still weighing on the market.

2. What are the latest support and resistance levels for Bitcoin?

Level Support: $92,180 is the critical support level based on MVRV analysis. If this level fails to maintain, the next downside target will be $74,400.

Resistance Levels: Bitcoin need to penetrate $101,000 to restore bullish momentum and test the next resistance at $103,600 until $106,148.

3. What are the main factors influencing the current price of Bitcoin?

Key factors include:

Global Trade Tensions: US-China tariffs and global economic uncertainty continue to weigh on market sentiment.

Selling Pressure by Whale: Whale activity moving assets to centralized exchanges increases selling pressure.

Historical Trends and Technical Analysis: The previous bear trap-like downward pattern indicated a potential rally if the resistance level was successfully broken.

How to Buy Crypto on Bittime

Want to trade sell buy Bitcoins and crypto investment easily? Bittime is here to help! As an Indonesian crypto exchange officially registered with Bappebti, Bittime ensures every transaction is safe and fast.

Start with registration and identity verification, then make a minimum deposit of IDR 10,000. After that, you can immediately buy your favorite digital assets!

Check the exchange rate BTC to IDR, ETH to IDR, SOL to IDR and other crypto assets to find out today's crypto market trends in real-time on Bittime.

Also, visit the Bittime Blog for interesting updates and educational information about the crypto world. Find reliable articles about Web3, blockchain technology, and digital asset investment tips designed to enrich your crypto knowledge.