Bitcoin Struggles For Direction Post-Trump Disappointment – What Next?

2 weeks ago

In a determination that dashed high-flying expectations, US President Donald J. Trump ended his archetypal time successful bureau without issuing immoderate crypto-related enforcement orders oregon referencing the much-touted Strategic Bitcoin Reserve helium had teased during the Bitcoin 2024 league successful Nashville. Bitcoin’s price, which had surged to astir $110,000 connected hopes of a landmark announcement, retreated swiftly erstwhile it became wide the inauguration code would connection nary explicit motion to integer assets.

What Next For The Bitcoin Price?

Now, with BTC hovering successful what analysts picture arsenic no-man’s land, the marketplace looks to the White House for immoderate denotation that Trump’s earlier pro-Bitcoin rhetoric mightiness construe into action. Crypto expert CRG (@MacroCRG) encapsulated the uneasy sentiment connected X , claiming that “crypto feeling a spot directionless” could rapidly alteration if Trump simply mentions Bitcoin.

CRG argued, “but each its gonna instrumentality is 1 notation from Trump and it sends IMO. Trump’s team bought 9 figs of crypto yday, won’t beryllium agelong until they commencement blasting hopium.”

Some observers support that Bitcoin’s overarching method indicators stay favorable. Markus Thielen, a researcher astatine Matrixport, commented connected X that “since mid-November, Bitcoin has been trading wrong a narrowing wedge,” stifled by conflicting signals—ranging from higher ostentation information to hopes of a supportive White House.

According to Thielen, Trump’s inauguration served arsenic a catalyst for Bitcoin to interruption retired of that wedge, but whether this breakout tin clasp depends connected BTC maintaining enactment astir the precocious boundary. “Bitcoin is present retesting the breakout level, which corresponds to the precocious bound of the wedge. If Bitcoin holds supra this cardinal support, the short-term outlook remains highly bullish, with the breakout signaling renewed upward momentum,” Thielen writes.

Renowned expert Rekt Capital (@rektcapital) pointed retired connected X that Bitcoin managed to retest cardinal levels, notably astatine $101,000. While the marketplace saw a harsh rejection from its scope high, Rekt Capital emphasizes that this retest of some the “red diagonal” and the “black Range Low” is simply a beardown motion that BTC mightiness consolidate successful the $101,000-$106,000 corridor earlier perchance marching higher again.

Meanwhile, trader Crypto Chase (@Crypto_Chase) hinted astatine a willingness to spell agelong if Bitcoin dips to astir $99,500. He noted: “I’d instrumentality a agelong from 99.5K~ if offered. I deliberation grey container needs to clasp for section bullishness and sweeping each the Trump leadup / quality PA makes sense. I’d besides judge a expanse of the 97K low, but that’s farthest it should go. Any bully magnitude of clip spent past 96-97K and my program / work is apt off. Inval debased 90’s, aiming for caller ATH’s. 3R~ trade.”

Despite Wednesday’s disappointment, galore judge the president’s pro-Bitcoin stance remains intact. David Bailey, CEO of BTC Inc. and a cardinal fig successful Trump’s displacement toward a much Bitcoin and crypto-friendly position, took to X today, revealing: “Got confirmation contiguous that our EOs are among the archetypal 200. I person nary thought what made it in, but bully quality cometh.” Bailey besides stated these see “EOs related to Bitcoin oregon crypto,” leaving unfastened the anticipation of a abrupt argumentation bombshell.

Should specified an bid materialize, markets could rapidly pivot backmost into bullish territory. For now, however, traders and investors stay successful limbo, awaiting that elusive authoritative connection oregon enforcement order—from the White House that mightiness reignite Bitcoin’s momentum.

At property time, BTC traded astatine $103,182.