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Bitcoin surprisingly recovers after setbacks – what’s behind it?
Bitcoin stabilizes at $106,000 after losses. Influence of US tariff policy and Trump's election on the course analyzed.
Bitcoin surprisingly recovers after setbacks – what’s behind it?
The Bitcoin price has stabilized at around $106,000 after a decline on Friday morning. The previous week the price fell from a high of almost $111,000. These fluctuations are due to various price-driving factors, in particular US President Donald Trump's tariff policy and different market signals. At the start of the week, a postponement of tariffs on EU goods provided short-term stability. However, as the week progressed, doubts about a positive solution to the trade war emerged, which weighed on the Bitcoin price again.
Bitcoin has benefited from Trump's presidency as Trump is seen as a promoter of cryptocurrencies. Trump's media company, TMTG, also appears as a Bitcoin buyer. Since his election in November 2024, the Bitcoin price has risen from under $70,000 to a high of $112,000. Currently, Bitcoin has a market capitalization of around $2.1 trillion, while the total market capitalization of cryptocurrencies is just over $3.3 trillion.
Transactions and wallets
The way Bitcoin is sent can vary depending on the wallet provider and type. Users must define the amount they want to send through an interface, be it a mobile app, a desktop application, a web browser or a Bitcoin ATM. For every transaction, the recipient's wallet address must be known. Users have the ability to generate multiple new wallet addresses, with each address linked to a unique private key. The private key remains constant and should be treated securely and confidentially.
The wallet addresses are publicly visible on the Bitcoin blockchain. Some wallet providers allow the transfer to be completed by scanning a QR code, while others support entering an email address linked to the recipient's wallet address. In cases where there is no support for QR codes or email addresses, the alphanumeric characters of the Bitcoin address must be carefully checked. When making transfers between software wallets on a cryptocurrency exchange, the function can be referred to as depositing or receiving. Sending Bitcoin from a hardware wallet, such as the Ledger Nano S, typically requires a desktop application. Users also often have the option to choose the amount of transaction fees, although lower fees can result in longer confirmation times on the blockchain.