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President Trump's pledge to sign pro-crypto legislation boosts Bitcoin prices as he emphasizes keeping the US as a crypto leader.
Japanese bond yields reaching historic highs bring concerns of fiscal instability, influencing global financial markets.
Bitcoin finds support near its 2026 opening level, providing potential for price recovery.
Trump's Pro-Crypto Push Elevates Bitcoin Prospects
Bitcoin witnessed gains of 1.7% during the Wall Street open Wednesday, driven by optimistic signals from President Donald Trump's address at the World Economic Forum in Davos, Switzerland. Trump promised pro-crypto legislation "very soon," with the Genius Act already signed into law, aiming to cement America's status as the crypto capital. His remarks sparked a rally, with the S&P 500 up 0.5% amidst renewed confidence in market dynamics. Trump's optimism extended to a bold prediction for a doubled Dow Jones Industrial Average, targeting a 50,000 mark, as the world awaits EU's trade retaliatory actions over the Greenland issue.
Meanwhile, attention was also diverted to Japan, where rising bond yields, now around 2.29%, unveiled longstanding fiscal challenges. QCP Capital highlighted vulnerabilities with government debt exceeding 240% of GDP, implying significant debt servicing burdens by 2026. The instability in Japan's bond market, described as "deepening," may serve as a volatility catalyst for global bonds.
Bitcoin Price Eyes Rebound at Key 2026 Levels
Earlier reports from Cointelegraph revealed January's Bitcoin movements approaching the 2026 starting price, closing gaps in the CME Group's Bitcoin futures markets. Trading insights suggested robust buying support indicates a foundation for upward momentum. Notable analyst Daan Crypto Trades recommended vigilance over local lows, positing that dips below 2026 thresholds could offer longer-term benefits for BTC/USD positioning.
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