Bitcoin price up, but macro pressures keep sentiment and appeal in check

Bitcoin (BTC) has climbed to a 10-week high of $97,930, but derivatives data signals neutral market sentiment, Cointelegraph reported. The annualized premium on two-month futures has held between 6% and 7%, within the neutral range. This contrasts with January, when BTC hovered near $95,000 and futures premiums topped 10%, reflecting stronger sentiment. BTC’s price is largely influenced by U.S.–China trade tensions, which, if they persist, could cause it to continue mirroring the S&P 500. Investors are concerned that this correlation weakens BTC’s “digital gold” appeal. While this may limit near-term upside, derivatives currently lean slightly bullish.