Bitcoin’s price holds steady before Trump’s upcoming 100-day speech, with expectations for potential positive crypto policy shifts. Over $4.7 billion in BTC withdrawals signal tightening supply, increasing sensitivity to demand. Market analysts stress the importance of surpassing $95,000 for a bullish trend. Tariffs could limit gains, making upcoming commentary from Trump critical for short-term price movement.
Bitcoin’s price landscape is holding steady, nestled within a tight corridor as traders watch and wait for President Trump’s 100-day speech on April 29. Trading has been hovering between $91,700 and $95,850, which leaves plenty of reason for speculation. As anticipation builds, there’s a sharper spotlight on potential changes in crypto policies from Trump’s administration that could ignite movements in Bitcoin’s value.
Interestingly, there has been a significant shift in Bitcoin’s availability. Since late April, over $4.7 billion worth of Bitcoin—around 50,500 BTC—has been withdrawn from exchanges. This decreasing supply could play a huge role in how sensitive the market is to budding demand, particularly post-speech. With fewer coins available for trading, any uptick in interest might just push prices upward, especially if Trump’s remarks hint at more favorable crypto regulations.
However, amid all this optimism, there’s a significant caveat. The shadow of tariffs looms large as Trump’s administration could reference tariffs or budgetary cuts that might stall Bitcoin’s rise. This isn’t just speculation; historical data show that Trump’s comments tend to trigger short-term surges. For instance, Bitcoin had recently rallied from $74,400 to about $94,000, partly due to Trump’s remarks about reducing tariffs on Chinese goods.
Trading platform Polymarket pegs about a 24% chance that Trump will mention terms like “crypto” or “Bitcoin” during his speech, with users betting a combined sum exceeding $1 million. While a rhetorical boost could be on the table, it raises a question of what happens next. Market watchers emphasize the need for Bitcoin to break past $95,000. If that threshold is conquered, the beloved crypto may likely charge toward the elusive $100,000 mark.
As noted by analyst AlphaBTC, “BTC is slowly compressing and making higher lows under 96K resistance.” Observations from fellow analysts suggest the more Bitcoin probes the $95,000 price point, the more likely the breakthrough will happen. Meanwhile, there’s an undercurrent of sentiment—”I expect a bigger pullback, but probably not until 100K has been taken out,” stated AlphaBTC, reflecting the tension and anticipation in the market.
On the watchlist is also a crucial support level—the 200-day simple moving average which sits between $89,500 and $91,000. It’s a zone to keep an eye on while Bitcoin trades range-bound. As traders tally these levels, the overarching sentiment is patience. Fellow analyst Daan Crypto Trades remarks that futures are uncertain, with a key resistance zone hanging at $99,500 and then the heavily trafficked psychological barrier at $100,000.
All of this analysis circles back to broader market fundamentals that could just usher Bitcoin past the much-coveted $100,000. Peter Chung, a research leader at trading firm Presto, even forecasts a whopping $210,000 valuation in 2025. But, of course, just a healthy market doesn’t guarantee success—investors must tread carefully.
So, with Trump’s speech looming like a cloud over Bitcoin’s current range, traders are bracing for potential shake-ups while holding their breath for the possibility of climbing prices or fresh regulatory insights. The market’s fate remains as fluid as the Bitcoin itself, just waiting for cues to turn the tide.
In a nutshell, Bitcoin is poised on a precipice as President Trump’s 100-day speech beckons. With a tightening price range and plummeting exchange supply, keen eyes are set on potential shifts in crypto policy that could ignite Bitcoin’s ascent, but lingering tariff discussions loom as a potential, heavy anchor. As traders hold their breath for the speech, the next few days will undoubtedly determine whether Bitcoin sails toward $100,000 or becomes ensnared in uncertainty.
Original Source: cointelegraph.com
