This article is also available in Spanish.
In a move that shattered high expectations, US President Donald J. Trump ended his first day in office without issuing any cryptocurrency-related executive orders or referring to the much-touted Bitcoin Strategic Reserve that he raised during the Bitcoin 2024 conference in Nashville. Bitcoin’s price, which had soared to nearly $110,000 on hopes of a landmark announcement, quickly retreated once it became clear that the inauguration speech would not make any explicit reference to the digital asset.
What’s next for Bitcoin price?
Now, with bitcoin hovering in what analysts call no man’s land, the market is looking to the White House for any sign that Trump’s past pro-bitcoin rhetoric might translate into action. Cryptocurrency Analyst CRG (@MacroCRG) Laminated The turbulent sentiment towards
Related reading
“But all it takes is one signal from Trump and a send IMO,” CRG argued. “Trump’s team has bought 9 figs of crypto a day, and it won’t be long until they start blowing up hopium.”
Some observers assert that Bitcoin’s overall technical indicators remain favorable. Markus Thelen, researcher at Matrixport, Comment According to
Related reading
According to Thelen, Trump’s inauguration served as a catalyst for Bitcoin to break out of this wedge, but whether this breakout can continue depends on Bitcoin holding support around the upper boundary. “Bitcoin is now retesting the breakout level, which corresponds to the upper border of the wedge. If Bitcoin settles above this key support, the short-term outlook remains very bullish, as a breakout indicates renewed bullish momentum.
Popular analyst Rekt Capital (@rektcapital) noted on X that Bitcoin has managed to retest key levels, particularly at $101,000. While the market saw a harsh rejection of its high range, Rekt Capital asserts that a retest of both the “red diagonal” and “low black range” is a strong sign that BTC may consolidate in the $101,000-$106,000 corridor before potentially rising higher. once again.
Meanwhile, trader Crypto Chase (@Crypto_Chase) hinted that he is willing to buy if the price of Bitcoin drops to around $99,500. “I would take a long run of ~99.5K if offered,” he noted. “I think the gray box needs to maintain the local uptrend and sweeping all the Trump/PA News lead makes sense. I would also accept a sweep of the low of 97K, but that’s the maximum it should take.” To get to it any significant amount of time I spent after 96-97K and my Inval low 90’s plan/reading would likely be off, with the goal of getting ATH New 3R~Trade.
Despite Wednesday’s disappointment, many believe the president’s pro-Bitcoin stance remains. David Bailey, CEO of BTC Inc., spoke. And a key figure in Trump’s shift toward a more favorable stance on Bitcoin and cryptocurrencies, to X Today, Revealing: “We received confirmation tonight that our overseas offices are among the top 200. I have no idea what that has become, but good news is coming.” Bailey also stated that these include “offshore offices linked to Bitcoin or cryptocurrencies,” leaving open the possibility of a sudden political bombshell.
If such a thing were to materialize, the markets could quickly return to bullish territory. However, for now, traders and investors remain in a state of limbo, waiting for the elusive official statement or executive order – from the White House – that could reignite Bitcoin’s momentum.
At press time, Bitcoin was trading at $103,182.
Featured image created with DALL.E, a chart from TradingView.com
The post Bitcoin Struggles Post-Trump Disappointment – What Next? first appeared on Investorempires.com.