The post Bitcoin News: BTC’s Historic $100K+ Monthly Close—Will February Deliver a Price Surge? appeared on BitcoinEthereumNews.com.

On Jan. 31, Bitcoin closed its latest monthly candle at $102,400, giving bulls their first close above the $100,000 mark. Analysts expect that Bitcoin will continue its historical February trend of strong gains, just as it did in 2024, when it surged 43.55% during the month. Bitcoin (BTC) has officially entered uncharted territory, closing January above $100,000 for the first time in history. According to TradingView, BTC ended the month at $102,400 despite some turbulence in traditional markets. This follows December’s close at $93,439, which came after BTC briefly hit $106,000 on December 17, the highest price recorded in 2024. However, Bitcoin’s end-of-month drop was largely due to risk-off sentiment in traditional markets. U.S. President Donald Trump’s announcement of 25% tariffs on imports from Canada and Mexico, effective February 1, shook financial markets. The Canadian dollar fell 0.6%, and the USD/CAD exchange rate rose to 1.4480. Data from Trading Economics shows that in 2023, the U.S. imported $429.6 billion in goods from Canada and $480 billion from Mexico, making Mexico the largest U.S. trading partner in terms of imports. As part of the new tariff policies, Canadian oil will face a 10% tax, with additional oil and gas tariffs expected in mid-February. These tariff changes could introduce economic uncertainty, impacting both traditional and digital asset markets. Bitcoin, often seen as a hedge against inflation, may experience heightened volatility as investors react to these shifts. Analysts also highlight Bitcoin’s growing correlation with the S&P 500, suggesting that it now behaves more like a risk-on asset, rising and falling alongside traditional markets. This trend was evident last fall when geopolitical tensions in the Middle East led to a drop in Bitcoin’s price and major outflows from spot Bitcoin ETFs. Can Bitcoin Maintain Its February Bullish Trend? February has historically been one of…

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Filed under: News - @ February 1, 2025 11:05 pm