Bitcoin price clips $23K on Pelosi Taiwan visit as trading range persists

Bitcoin price clips $23K on Pelosi Taiwan visit as trading range persists


Bitcoin (BTC) saw volatility after the Aug. 2 Wall Street open amid ongoing market reactions to tensions between the United States and China.

BTC price U-turns as Pelosi lands in Taipei

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD spiking above $23,000 on the day as news came in that Nancy Pelosi, speaker of the U.S. House of Representatives, had landed in Taipei, Taiwan after warnings of retaliation from Beijing.

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The visit, which had raised concerns of a major incident occurring, appeared to go without a hitch — something an analyst at major banking giant JPMorgan had previously said would spark a market rally.

she made it, pump the markets pic.twitter.com/Os09HTGIoc

— Fomocap (@fomocapdao) August 2, 2022

Both the S&P 500 and Nasdaq Composite Index were slightly higher at the time

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