QCP Capital notes that traditional financial markets continue to experience erratic trading, with the S&P 500 laboring to sustain the crucial 6,000 mark. This instability has seeped into crypto, prompting abrupt price fluctuations. Bitcoin (BTC) momentarily fell to $96,147, while ether (ETH) slipped to $2,632.

BTC/USD 1D chart Feb. 5, 2025.

According to QCP’s market analysis, postponing U.S. tariffs on Mexico and Canada has afforded temporary relief for the crypto market. Nevertheless, the enduring trade war between the U.S. and China remains a significant concern. A planned call between U.S. President Donald Trump and Chinese President Xi Jinping presents a possible remedy, yet market participants remain cautious.

BTC/USD 5 minute chart Feb. 5, 2025.

QCP notes that regulatory shifts are influencing market sentiment. A conference hosted by Crypto Czar David Sacks fell short of expectations, leaving investors awaiting definitive regulatory measures. Although a new task force seeks to craft stablecoin legislation and a working group is set to assess the viability of a strategic bitcoin reserve, QCP regards these developments as long-term advantages rather than immediate market triggers.

Even though bitcoin has held steady above $90,000, QCP cautions that potential downward risks persist, particularly amid geopolitical strains and the absence of near-term crypto-specific catalysts. Substantial liquidations earlier in the week highlight the necessity for a defensive trading strategy and effective risk management measures.

As markets continue to react to global events, QCP maintains a cautious outlook, stressing the need for vigilance when navigating crypto’s evolving environment.

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