Bitcoin tested $97,200 amid low market activity

On Thursday, bitcoin remained in a narrow range, showing an increase of 1.28%, trading around $97,200. The cryptocurrency continues to consolidate, without finding any impulses for significant movements. The market is expecting new catalysts amid uncertainty in the Fed rate and the US tariff policy.

Earlier, the exchange rate increased by 1% after the news about the restoration of diplomatic relations between the United States and Russia. Negotiations to resolve the conflict between Russia and Ukraine have raised optimism, easing inflation fears, but bitcoin has not shown a rally.

The market is under pressure from ambiguous economic signals. U.S. plans to impose new tariffs on imports of automobiles and semiconductors have increased investor caution. The Fed's minutes confirmed the intention to keep rates high for 2025, and also expressed concerns about rising costs and inflation due to tariffs. This creates unfavorable conditions for bitcoin, which is sensitive to high rates.

Activity on the crypto market remains low, which limits movement. Analysts believe that clearer market signals are needed to break out of the current stagnation.

Altcoins showed mixed dynamics: Ether increased by 0.5% to $2,728.8, XRP decreased by 1.3% to $2,7028, Solana and Cardano added 0.8% each, and Polygon increased by 0.3%. Among the meme tokens, Dogecoin gained 0.2%, while TRUMP fell 0.7%.