Bitcoin trades around $68,000, shows resilience despite new US tariff developments

Bitcoin hovered around the $68,000 mark on Saturday, demonstrating strong resilience and renewed bullish momentum despite fresh U.S. tariff developments. The cryptocurrency was trading at the $67,830 level.

In the past 24 hours, Bitcoin and Ethereum have been up 0.12% and 0.42%, respectively. Among the major altcoins, XRP, BNB, Solana, Tron, Dogecoin, Cardano, and Hyperliquid gained over 3%. The global crypto market capitalisation went up 0.31% to $2.33 trillion, according to CoinMarketCap.

Also Read | NFO Insight: Will TIDE investment strategy of this tech mutual fund help you navigate market volatility?Nischal Shetty, Founder, WazirX, said price action suggests growing buyer confidence, with RSI trending toward recovery levels and momentum building toward a potential breakout above immediate resistance.Although some Moving Averages (MA) remain neutral, improving sentiment points to strengthening structure. Ethereum is holding firm around $1,960, consolidating constructively as MACD flattens and momentum stabilises, positioning for a possible upside move, Shetty further said.

In the past week, Bitcoin and Ethereum edged down 1.31% and 4.27%, respectively. Among the major altcoins, XRP, BNB, Solana, Tron, Dogecoin, and Cardano gained over 3%, and Hyperliquid slipped 3.25%.Riya Sehgal, Research Analyst, Delta Exchange, said Bitcoin is currently trading near $68,000, attempting to break through resistance at $68,000–$68,500. On the hourly chart, price has bounced from the $65,500–$66,000 support zone but remains under key moving averages.Also Read | Top sectors that witnessed high levels of buying by mutual funds in JanuaryShetty added that a break below the February 12 low could lead to a larger pullback toward $62,000–$64,000. Ethereum shows a similar setup, consolidating near $1,967 with support around $1,960 and resistance at $1,991–$2,000. Sustained strength above $2,000 could signal a short-term trend reversal.

Since Oct. 10, roughly $8.5 billion has flowed out of US-listed spot Bitcoin exchange-traded funds. Bitcoin has fallen more than 40% even as stocks and precious metals have found buyers, as reported by Bloomberg.