Bitcoin Prices Climbed Back Above $100,000 Today (Photo illustration by Chesnot/Getty Images)

Bitcoin bounced back on Monday, February 3, rising above $100,000 once again after falling to nearly $90,000 over the weekend.

Bitcoin prices rebounded on Monday, February 3, rising above $100,000 once again after falling to nearly $90,000 over the weekend.

The world’s most valuable digital currency reached roughly $102,600 close to 5 p.m. EST, according to Coinbase data from TradingView.

At this point, the cryptocurrency was up more than 10% from the recent low of close to $91,000 it attained on Sunday, February 2, additional Coinbase figures from TradingView show.

When explaining the digital asset’s latest price movements, analysts cited several factors, including the recent tariff announcements, supply-demand dynamics and also the impact of speculative bets being liquidated.

One market observer who weighed in on these developments is the the TikTok influencer who goes by Wendy O.

“Over the weekend President Trump announced tariffs on Mexico, Canada and China,” she noted via email. “Since this was announced on 2/1/2025, Saturday, this caused a lot of fear for crypto traders on how this could impact traditional markets.”

“Many, including Blackrock have indicated that Bitcoin is an ideal asset during volatile times of economic uncertainty, similar to Gold,” she emphasized.

The analyst also emphasized sharp changes in leveraged positions, citing data provided by crypto analytics platform CoinGlass.

“According to CoinGlass most traders took a long position and out of the historic $2.2B liquidations, ~$1.5B longs were liquidated while gold hit an all-time high,” Wendy noted.

“This indicates Bitcoin traders, may have anticipated that Bitcoin would continue with bullish price action as uncertain economic conditions could have occurred Monday due to Trumps tariffs (similar to gold)."

“However, the 25% tariffs placed on Mexican imports has been paused for the next 30 days which could indicate less volatility,” she stated, emphasizing today’s announcement that President Donald Trump was postponing tariffs on Mexico until early next month.

Markets also found out today that Trump planned to pause the Canadian tariffs he announced over the weekend after speaking with Prime Minister Justin Trudeau.

Certain analysts who offered input for this article made today’s increase in bitcoin prices seem predictable given existing market conditions.

“Bitcoin’s recovery to $100K and above is no surprise—it’s simple supply and demand,” Cory Klippsten, CEO of Swan Bitcoin, said via emailed comments.

“Institutions, sovereign wealth funds, and everyday people are realizing fiat’s inevitable decline and moving into the best money ever invented,” he added.

“Weak hands sold in the recent dip, but strong holders stepped in, stacking harder,” Klippsten stated. “Meanwhile, global uncertainty is driving more people to opt out of failing fiat. This is just the beginning.”

Tim Enneking, managing partner of Psalion, also weighed in.

“Today’s rebound was simply a recovery from the absurd drop yesterday,” he stated through email.

“In most cases, the correlation with certain fiat markets works against Bitcoin; yesterday, had US equities markets been open, it would have worked very much in favor of BTC,” Enneking emphasized.

“The drop on Sunday hit ridiculous proportions because there was nothing to slow it down and fear totally dominated greed; the drop only slowed once Asia markets had opened and had totally reversed several hours after US markets had done the same,” he stated.

“So, billions of long positions wiped out and another data point created for folks who are considering investing in the crypto ecosystem,” Enneking concluded.

Alex Lin, cofounder and general partner at venture capital firm Reforge, also weighed in, highlighting the strong interest of cryptocurrency buyers.

“BTC’s rebound above $100,000 after its weekend lows points to a significant supply squeeze,” he wrote through emailed comments.

“Over the past few days, retail investors capitulated due to fears sparked by Trump’s trade war headlines. However, large players and institutions took advantage of the dip to accumulate, as shown by the Coinbase Bitcoin Premium Index, which indicated strong buyer demand with a noticeable premium,” Lin stated.

“This activity underscores BTC’s resilience and suggests potential bullish momentum, especially as confidence in the broader market outlook remains strong,” he added.