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

Mexican billionaire Ricardo Salinas has ramped up his Bitcoin exposure, now allocating 70% of his portfolio to the leading cryptocurrency.

Bitcoin jumped more than 6% after Trump announced a one-month delay on auto tariffs for Canada and Mexico, easing market concerns.

Bitcoin's price was buoyed Wednesday on hopes President Trump would soften the punishing tariffs on key trade partners Canada and Mexico.

Bitcoin's price rose 7% near $90,000 amid optimism for a potential trade compromise between the U.S., Canada, and Mexico. Ethereum also recovered 6.1% to surpass $2,200, following news of potential tariff avoidance.

A piece of legislation that would allow the state to invest up to 5% of certain public funds in bitcoin — amounting to over $2 billion in taxpayers' money — has ben tabled.