Bitcoin’s price action has been nothing short of a rollercoaster in the last 24 hours. It soared to an intraday high of $87,453 before sharply retracing. The rally was driven by speculation that former U.S. President Donald Trump would unveil major pro-Bitcoin policies at the Digital Asset Summit.
However, after his video appearance reaffirming his goal to make the U.S. a “Bitcoin superpower”—but without specifics on capital gains tax cuts or a strategic Bitcoin reserve—the market quickly lost steam. Bitcoin has since dropped to $83,819, struggling to regain momentum as traders react to the news.
Bitcoin Chart Analysis: Key Support and Resistance Levels
- Yesterday’s High: $87,453 – Briefly tested before sharp rejection.
- Today’s Price: $83,819, holding just above key support at $82,688.
- Resistance Levels:
- $91,252 – Major resistance; a breakout could send BTC back toward $100K.
- $100,114 – Psychological level; regaining this could confirm a renewed uptrend.
- $109,391 – Ultimate bull target if momentum returns.
- Support Levels:
- $82,688 – Immediate support; holding above this keeps BTC stable.
- $73,746 – Key level to watch if selling pressure increases.
- $66,273 – A deeper correction zone if bearish momentum persists.
Final Takeaway: Is Bitcoin’s Bull Run Over or Just Getting Started?
Bitcoin’s wild price swings remind us that politics and macroeconomic trends are growing influential on crypto. While Trump’s Bitcoin-friendly rhetoric is bullish in the long term, today’s price action suggests consolidation before the next major move.
If BTC can break above $91,252, we could see another run toward $100K. But if $82,688 fails, a retest of $73,746 is possible. Either way, this market is heating up, and the next breakout could be massive!
The post Bitcoin Price Analysis: Trump’s “Bitcoin Superpower” Statement Triggers Volatility appeared first in UK on InvestingCube.
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