#Bitcoin Technical Analysis and Crypto Speculation Linked to Trump's Inauguration Expectations

Bitcoin Technical Analysis and Crypto Speculation Linked to Trump's Inauguration Expectations
Bitcoin (#BTC) has recently shown a significant breakout in its price action. While BTC's technical outlook has been strengthening positively, political speculations are increasing market volatility. For investors, closely monitoring both technical levels and macroeconomic and political developments is crucial. Notably, news surrounding Donald Trump’s potential inauguration could trigger sudden price movements in the crypto market in the coming period.

BTC has broken out of a long-standing downward trendline to the upside, signaling the potential start of a bullish trend. However, confirmation of this breakout requires the price to remain above the trendline for several days. Currently, BTC is trading above the 20-, 50-, and 100-day moving averages, indicating strong positive momentum in the short to medium term.
The nearest support level is 98,230 USD, with a secondary key support at 92,332 USD if the former is breached. On the resistance side, 108,364 USD is a critical level to watch. Breaking this resistance could lead to a rapid upward price movement.
Recently, the crypto market has been influenced by speculation regarding Donald Trump’s potential return to the presidency and related inauguration. Trump’s historically pro-free market stance has been interpreted as indirect support for cryptocurrencies. Additionally, expectations of increased public spending and growth-oriented policies under a potential Trump administration could drive demand for riskier assets like #Bitcoin. In such a scenario, the crypto market often prices major political events like inaugurations as speculative "priming" opportunities.

BTC’s technical indicators remain positive. Investors should keep a close eye on price movements between the 98,230 USD support and the 108,364 USD resistance levels.
#Crypto #cryptomarket #Blockchain #Coin #ETH #Ethereum #Trump
#Bitcoin #BTC #Bitcoin #Crypto #cryptomarket #Blockchain #Coin #ETH #Ethereum #Trump