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Bitcoin (BTC) has recently undergone extreme price fluctuations, primarily influenced by contrasting announcements from the U.S. administration under President Donald Trump. On February 2, Trump's unexpected declaration to include Bitcoin, Ethereum (ETH), and XRP as U.S. strategic reserve assets pushed Bitcoin above $94,000. Shortly thereafter, the imposition of tariffs on China, Mexico, and Canada triggered sharp declines, bringing Bitcoin down to around $82,000 within days.

The ongoing volatility is compounded by upcoming high-profile events, including the White House Virtual Asset Summit and the U.S. SEC's first virtual asset roundtable, both creating substantial anticipation and uncertainty in the market. Despite these potentially bullish developments, unresolved questions about Trump's crypto-reserve policy and unclear signals from the Federal Reserve regarding interest rate adjustments continue to cloud Bitcoin's short-term outlook.

Experts note the volatility is exacerbated by reduced "cash-and-carry" trading activity, indicating increased market caution. Matrixport emphasizes that traders remain largely in risk-off mode, avoiding new long positions until macroeconomic uncertainties diminish. Investors are advised to maintain a prudent stance and carefully manage risk until clearer signals emerge.