The cryptocurrency market is seeing a notable drop even after the US support for the sector announced yesterday. The price of Bitcoin Today, 05/02/2025, there has been a significant pullback in the last 24 hours, which has led the asset to trade below $99. Yesterday, BTC was trading lower at the $96 level, according to market data, but managed to recover to its current price zone.
Amidst the scenario, some important cryptocurrencies are operating on the rise, such as Ethereum, Cardano, Avalanche, SUI, Shiba Inu. Donald Trump's recent political moves in relation to the sector have driven his Official Trump token (TRUMP) to rise again, registering a daily increase of 11.2% and trading at US$ 19,22, interrupting the declines of the last few days.
When analyzing the price action of the largest cryptocurrency on the market, renowned analyst Ali Martinez highlighted that Bitcoin is currently consolidating between the $90.900 and $108.500 levels. “Until we see a clear breakout beyond this range, the trend direction remains uncertain,” he said.

At the time of publication, the price of Bitcoin was quoted at US$ 98.173,28 with a drop of 1.1% in the last 24 hours, equivalent to approximately R$ 566,362.60 BRL and € 90,779.07 EUR. The asset shows a drop in its value of 4.2% in the week.
US political and economic moves affect cryptocurrencies
Two positive news items have influenced market outlook recently: signature of an executive order establishing a Sovereign Wealth Fund (SWF) made by US President Donald Trump, in addition to a initiative legislative measure in the US, announced yesterday, which promises to strengthen cryptocurrency dominance in the country.
It is worth remembering that the week started difficult for the cryptocurrency market and for global markets that saw strong corrections, after the tariff increase announced on Friday (31) by the US government. The measure, which raised taxes on Mexican, Canadian and Chinese products, rekindled concerns about inflation in the United States. However, the financial scenario began to change after the announcement that tariffs on Mexico and Canada had been postponed for a month.
However, China was not part of the deal and responded yesterday by increasing its tariffs on American imports, reigniting the trade war between the world's two largest economies and driving a new wave of market declines. The escalation of tensions between the two countries is expected to continue to pressure the cryptocurrency market in the coming weeks.