Featured image created with DALL.E, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
In a move that dashed high-flying expectations, US President Donald J. Trump ended his first day in office without issuing any crypto-related executive orders or referencing the much-touted Strategic Bitcoin Reserve he had teased during the Bitcoin 2024 conference in Nashville. Bitcoin\u2019s price, which had surged to nearly $110,000 on hopes of a landmark announcement, retreated swiftly once it became clear the inauguration address would offer no explicit nod to digital assets. What Next For The Bitcoin Price? Now, with BTC hovering in what analysts describe as no-man\u2019s land, the market looks to the White House for any indication that Trump\u2019s earlier pro-Bitcoin rhetoric might translate into action. Crypto analyst CRG (@MacroCRG) encapsulated the uneasy sentiment on X , claiming that \u201ccrypto feeling a bit directionless\u201d could quickly change if Trump simply mentions Bitcoin. Related Reading: Analyst Says Bitcoin Price Could Retest Substantially Below $100,000 If This Level Fails CRG argued, \u201cbut all its gonna take is 1 mention from Trump and it sends IMO. Trump’s team bought 9 figs of crypto yday, won’t be long until they start blasting hopium.\u201d Some observers maintain that Bitcoin\u2019s overarching technical indicators remain favorable. Markus Thielen, a researcher at Matrixport, commented on X that \u201csince mid-November, Bitcoin has been trading within a narrowing wedge,\u201d stifled by conflicting signals\u2014ranging from higher inflation data to hopes of a supportive White House. Related Reading: 1 Million Bitcoin Pulled From Exchanges In The Past 3 Years: What It Means For The BTC Market According to Thielen, Trump\u2019s inauguration served as a catalyst for Bitcoin to break out of that wedge, but whether this breakout can hold depends on BTC maintaining support around the upper boundary. \u201cBitcoin is now retesting the breakout level, which corresponds to the upper boundary of the wedge. If Bitcoin holds above this key support, the short-term outlook remains highly bullish, with the breakout signaling renewed upward momentum,\u201d Thielen writes. Renowned analyst Rekt Capital (@rektcapital) pointed out on X that Bitcoin managed to retest key levels, notably at $101,000. While the market saw a harsh rejection from its range high, Rekt Capital emphasizes that this retest of both the \u201cred diagonal\u201d and the \u201cblack Range Low\u201d is a strong sign that BTC might consolidate in the $101,000-$106,000 corridor before potentially marching higher again. Meanwhile, trader Crypto Chase (@Crypto_Chase) hinted at a willingness to go long if Bitcoin dips to around $99,500. He noted: \u201cI’d take a long from 99.5K~ if offered. I think gray box needs to hold for local bullishness and sweeping all the Trump leadup \/ news PA makes sense. I’d also accept a sweep of the 97K low, but that’s farthest it should go. Any good amount of time spent past 96-97K and my plan \/ read is likely off. Inval low 90’s, aiming for new ATH’s. 3R~ trade.\u201d Despite Wednesday\u2019s disappointment, many believe the president\u2019s pro-Bitcoin stance remains intact. David Bailey, CEO of BTC Inc. and a key figure in Trump\u2019s shift toward a more Bitcoin and crypto-friendly position, took to X today, revealing: \u201cGot confirmation tonight that our EOs are among the first 200. I have no idea what made it in, but good news cometh.\u201d Bailey also stated these include \u201cEOs related to Bitcoin or crypto,\u201d leaving open the possibility of a sudden policy bombshell. Should such an order materialize, markets could quickly pivot back into bullish territory. For now, however, traders and investors remain in limbo, awaiting that elusive official statement or executive order\u2014from the White House that might reignite Bitcoin\u2019s momentum. At press time, BTC traded at $103,182. Featured image created with DALL.E, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":679551,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[428,656,679,1119,89185,1122,8480,93399,93961],"class_list":["post-679541","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-donald-trump","tag-strategic-bitcoin-reserve","tag-trump-bitcoin-news"],"acf":[],"yoast_head":"\n
Bitcoin Struggles Post-Trump Disappointment - What Next?<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n