Bitcoin is showing signs of a potential breakout as Donald Trump's inauguration approaches. Market analysts believe Trump's return to the White House could act as a catalyst, driving Bitcoin past the six-figure mark. However, the market remains cautious, with low trading volumes and subdued futures open interest. The success of this potential surge hinges on Bitcoin's ability to establish $100,000 as a solid support level.
Bitcoin might be on the brink of a massive capital surge as the countdown to Trump ’s return to the White House enters its final two weeks.After a week of bullish trends driven by the ‘New Year’ hype, market makers are preparing for potential shifts. These shifts are tied to Donald Trump ’s inauguration, which is just two weeks away.has surged 20% in the past 24 hours, signaling that capital isn’t just sticking to Bitcoin – it’s flowing across the market.
Despite this, activity remains subdued. Futures Open Interest is under $60 billion, compared to $70 billion when BTC touched $108K. Notably, trading volumes have also slipped by 6%.With Trump’s inauguration just two weeks away, a surge in both metrics could be the catalyst Bitcoin needs to break six figures – and potentially set a new all-time high.
Trump’s return to the White House could be the perfect catalyst. His influence might be just what Bitcoin needs to stay strong and avoid falling back into the $97K – $99K price band.is showing signs of weakness, with options volume dropping by 50% and $7 million worth of long positions squeezed out. The market is waiting for a clear rebound.
Cryptocurrency Bitcoin Trump Cryptocurrency Market Six-Figure Surge Economic Trends
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
MicroStrategy buys over 21K Bitcoin, now holds 2% of total BTC supplyBitcoin’s momentum fuels MicroStrategy’s strategy, with other institutional players accelerating their Bitcoin investments.
Read more »
MicroStrategy's Bitcoin Bets Deliver Stellar Returns in 2024MicroStrategy's aggressive Bitcoin purchases in 2024 have paid off handsomely, with its stock, MSTR, becoming the top-performing asset globally. MSTR's stock surged 358% year-over-year, sharing the top spot with Palantir Technologies. Bitcoin ranked third, while Nvidia came in second. \MicroStrategy's founder, Michael Saylor, a staunch Bitcoin proponent, believes the cryptocurrency will consistently outperform most U.S. stocks. The firm acquired a significant amount of Bitcoin (446.4K BTC), controlling 2.2% of the total supply as of late 2024. The most aggressive buying spree occurred in the fourth quarter, with over 107K BTC acquired in November alone.\While the pace of acquisition slowed in December, the firm plans to launch a massive equity issuance program to further accelerate its Bitcoin strategy. Despite a recent dip following a Bitcoin sell-off, MicroStrategy's bold bet on Bitcoin continues to generate significant returns.
Read more »
U.S. Bitcoin reserve debate: ‘Why would the government choose…?’Trump’s Bitcoin reserve plan could reshape economics, but investor confidence remains uncertain amid mixed opinions.
Read more »
China, Russia Bitcoin reserve plans to help BTC amid Trump’s crypto pushTrump's Bitcoin reserve pledge fuels international discourse, with Russia and China eyeing strategic crypto adoption.
Read more »
Trump’s Bitcoin vision: Will BTC climb to $150k under new regime?President Donald Trump envisions Bitcoin surpassing $150K as his administration backs crypto-friendly policies.
Read more »
Predicting Trump Rush, Vancouver Votes to ‘Get Ahead’ on BitcoinVancouver adopted a policy that could lead to it using Bitcoin in city finances — prompted in part by the return of US President-elect Donald Trump.
Read more »