Key Takeaways
- Bitcoin recorded its first-ever $10,000 daily price increase.
- The milestone occurred amid the 'Trump Tariff Crash' in global markets.
- Bitcoin remained strong while major altcoins saw double-digit losses.
Bitcoin reached a historic milestone this week, experiencing its first $10,000 daily price increase.
The surge came amid a volatile weekend for global financial markets, which saw steep declines due to what is now being dubbed:
The Trump Tariff Crash
Price recovery
Despite initially falling from over $105,000 to the $93,000 range, Bitcoin rebounded strongly.
Riot Platforms’ VP of Research, Pierre Rochard, highlighted the significance of this movement, noting that Bitcoiners should reflect on how, just five years ago, $10,000 was its entire price.
That was a $10k daily candle
— Pierre Rochard (@BitcoinPierre) February 4, 2025
5 years ago BTC/USD was $10k
Really makes you think pic.twitter.com/zl5CYeg13S
The ‘God Candle’ phenomenon
The term “God candle” refers to a $10,000 daily price jump, a concept that has emerged from Bitcoin Twitter rather than mainstream financial analysis.
Some also speculate about an “Omega candle,” which would mark a $100,000 daily surge.
Industry reactions
Swan CEO Cory Klippsten reinforced the definition, saying:
Broadly, we’re just talking about a $10,000 move in a day.
Meanwhile, Phil Geiger of Unchained humorously downplayed the event, tweeting that he had hoped for an all-time high rather than what he referred to as:
a crummy V-shaped recovery.
Meanwhile, Michael Saylor celebrated his 60th birthday with orange cake and green candles, coinciding with Bitcoin’s historic surge.
