Bitcoin (BTC) made history on Jan. 31, closing at $102,400 on Bitstamp—its first-ever six-digit monthly close. This came despite a last-minute BTC price drop due to macroeconomic volatility.
Risk assets fell after US President Donald Trump confirmed new tariffs on Canada, Mexico, and China starting Feb. 1. US stocks also declined, impacting market sentiment, per the Fear & Greed Index.
However, analysts remain confident. Aksel Kibar dismissed panic selling, saying true market tops come with euphoria, not corrections. Michaël van de Poppe reassured investors, predicting the news would eventually push crypto prices higher.
Meanwhile, PlanB’s Stock-to-Flow model added a red dot, signaling the most intense phase of the Bitcoin price cycle is underway. Historically, February has been a strong month for BTC, often seeing double-digit gains.
Source: Cointelegraph
