Bitcoin's fundamentals held up well during the latest dip, suggesting underlying strength, Swissblock analysts said.

Bitcoin (BTC) has declined by more than 15% since Feb. 3—when US President Donald Trump threatened to impose tariffs on China, Mexico, and Canada—and was trading for as low as around $86,400 as of March 5.

Wall Street’s major market averages were able to close out Wednesday’s trading session in positive territory as ongoing tariff discussions draw more and more attention. At the end of the day the benchmark S&P 500 (SP500) finished on top by 1.