Bitcoin faced disappointment as President Trump avoided crypto-related announcements on his first day in office. The lack of mention of the anticipated Strategic Bitcoin Reserve left markets uncertain.
Bitcoin Price Retreats After Hitting $110,000
Bitcoin surged to nearly $110,000 on expectations of a pro-crypto announcement. The price quickly retreated, falling to $103,182.
Analysts Weigh In on Bitcoin’s Next Move
Crypto expert CRG suggests Bitcoin needs just one mention from Trump to spark a rally. He hinted at insider crypto purchases by Trump’s team.
Bitcoin’s Technical Outlook Remains Favorable
Markus Thielen from Matrixport noted Bitcoin’s narrowing wedge since November. The recent breakout depends on holding key support levels.
Key Levels to Watch
Rekt Capital highlighted $101,000 as a critical retest point. He predicts potential consolidation between $101,000 and $106,000.
Trader Crypto Chase sees $99,500 as a good entry point, with invalidation below $96,000. His targets include new all-time highs.
Pro-Bitcoin Sentiment in the White House
David Bailey of BTC Inc. hinted at upcoming executive orders related to Bitcoin. This has fueled hopes of future crypto-friendly policies.
Bitcoin Traders Await Clarity
Markets are on edge, waiting for potential policy announcements. Any pro-Bitcoin statement could reignite bullish momentum.
Current Bitcoin Price
At press time, Bitcoin trades at $103,182. Traders remain cautious, watching for policy updates from the White House.
