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Bitcoin eyes return above $109,000, unpacking the effect of Donald Trump’s first week on crypto

Source Fxstreet

Bitcoin crosses $107,000 on Friday, eyes return to all-time high above $109,000.
US President Trump made pro-crypto appointments, launched a Solana token and ordered a crypto working group to draft regulations.
Reuters report reveals despite Bitcoin’s break above the $100,000 milestone and Trump’s pro-crypto stance, some large investors are unsure.

Bitcoin (BTC) rallies past the $107,000 level on Friday while traders remain hopeful of a retest of the token’s all-time high. United States (US) President Donald Trump took several pro-crypto actions in his first week back in the Oval Office.

Trump picked winners and losers with his meme token launch, made key appointments, chose Securities and Exchange Commissioner (SEC) Hester Peirce as head of a committee in charge of drafting crypto regulation and appointed pro-crypto Mark Uyeda as SEC Chair.

Bitcoin traders rejoice as crypto President takes charge

Bitcoin hit a new all-time high above $109,000 on the day of President Donald Trump’s inauguration. The optimism surrounding Trump’s inauguration fizzled out with no comments or executive orders on crypto during his first two days back in the Oval Office.

While crypto may have slipped Trump’s mind during his inauguration speech and the slew of executive orders he signed in the first two days, crypto traders remained hopeful as the President commented on the launch of his Solana-based meme token Official Trump (TRUMP), and the subsequent profits generated, referring to the latter as “peanuts.”

Following President Trump’s executive order to promote the growth of digital technologies in the US and a working group on the national Bitcoin stockpile, analysts on X unpacked the details and made three key observations:

A strategic Bitcoin reserve set to be built by the US is not priced in yet, and it fuels a bullish narrative for the largest cryptocurrency.
Traders should watch developments in Senator Cynthia Lummis’ bill closely for a timeline and expected price impact of building a national BTC stockpile.
Following Trump’s comments, the analyst behind the X handle @MacroScope17 has set a $1 million per Bitcoin target for the token.

After Trump’s executive order on Thursday, here are some quick comments on the BTC strategic reserve and what to watch for next. This includes a price prediction.

1. As a DC observer since the 1970s, I don’t think I’ve seen a political movement coalesce and get momentum like…
— MacroScope (@MacroScope17) January 24, 2025

President Trump likely crowned Solana the winner in the war between Ether and SOL through his meme token launch. Several on-chain metrics on Santiment show spikes in Solana’s user activity, volume, whale transactions, and open interest, following the launch of Trump’s TRUMP and first lady Melania’s meme token MELANIA, on the SOL blockchain.

Even as the stablecoin supply held by large wallet investors is in a downtrend, a spike was recorded this week, representing the demand for SOL and crypto tokens among whales. This coincides with above-average trade volume and activity in Solana, recorded in the Santiment chart below.

SOL

On-chain analysis of Solana | Source: Santiment

Why large investors at Davos are unimpressed with Trump’s Bitcoin strategy

A Reuters report published on Friday, analyzes why large investors would still prefer to remain on the sidelines, even as Trump promotes pro-crypto policy, regulation and takes measures to build a national BTC stockpile.

The US President’s address failed to convince Guggenheim Partners, headquartered in New York and Chicago. Anne Walsh, the company’s chief investment officer, told Reuters: "I am not an advocate, nor a critic... it is not what it was supposed to be, which was an alternative to banking."

The firm manages over $335 billion and has yet to invest in crypto. “To me, what crypto really correlates to is Nasdaq - it's a risk-on appetite indicator to me,” she added.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

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Gold Price Forecast: XAU/USD drifts higher above $4,200 as Fed delivers expected cut Gold price (XAU/USD) gains momentum to around $4,235 during the early Asian session on Thursday. The precious metal extends its upside after the US Federal Reserve (Fed) delivered an expected third consecutive interest rate cut and maintained its outlook for just one cut in 2026.

Author FXStreet

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Gold price (XAU/USD) gains momentum to around $4,235 during the early Asian session on Thursday. The precious metal extends its upside after the US Federal Reserve (Fed) delivered an expected third consecutive interest rate cut and maintained its outlook for just one cut in 2026.

Gold remains bid as lack of Fed clarity and geopolitical frictions persist Gold (XAU/USD) advances modestly on Friday as traders seem to book profits ahead of the weekend, yet clings to gains of over 0.51% after reaching a seven-week high of $4,353. At the time of writing, XAU/USD trades at $4,302 as traders digest comments from Federal Reserve (Fed) officials.

Author FXStreet

Yesterday 01: 34

Gold (XAU/USD) advances modestly on Friday as traders seem to book profits ahead of the weekend, yet clings to gains of over 0.51% after reaching a seven-week high of $4,353. At the time of writing, XAU/USD trades at $4,302 as traders digest comments from Federal Reserve (Fed) officials.

Ethereum Price Slips Lower — $3,000 Looms as the Key Battleground Ethereum is attempting to recover from a $3,026 low but remains below $3,200 and the 100-hour SMA, with a bearish trend line near $3,175 capping rebounds as bulls need a clean break above $3,200 to target $3,250–$3,400, while a drop below $3,050 risks a retest of $3,000 and $2,940.

Author Mitrade

Yesterday 03: 25

Ethereum is attempting to recover from a $3,026 low but remains below $3,200 and the 100-hour SMA, with a bearish trend line near $3,175 capping rebounds as bulls need a clean break above $3,200 to target $3,250–$3,400, while a drop below $3,050 risks a retest of $3,000 and $2,940.

Macro Analysts: Hawkish Japan Could Push Bitcoin Below $70K Analysts predict Bitcoin may face further declines towards the $70,000 mark if the Bank of Japan raises interest rates as expected.

Author Mitrade

Yesterday 05: 48

Analysts predict Bitcoin may face further declines towards the $70,000 mark if the Bank of Japan raises interest rates as expected.

Bitcoin Slides 5% as Sellers Lean In — Can BTC Reclaim $88,000?Bitcoin has dropped back below $88,000 after rolling over from $90,500, with price still trading under the 100-hour Simple Moving Average. The sell-off found a floor at $85,151, and BTC is now consolidating near that base, but rebounds are facing pressure from a bearish trend line around $89,000. Bulls need to retake $88,000–$89,000 to ease downside risk; failure to do so keeps $85,500–$85,000 and then $83,500 in play, with $80,000 as the deeper “line in the sand.” Bitcoin (BTC) is back in damage-control mode after a sharp pullback wiped out recent gains. The price failed to reclaim the $90,000–$90,500 band, rolled over, and slid through $88,500 before briefly dipping under $87,000. Buyers did show up around $85,000, but the rebound so far looks more like stabilization than a clear trend reversal. Bitcoin dips hard, finds a bid near $85,000（h3） BTC’s latest move lower began when it couldn’t build follow-through above $90,000 and $90,500. Once that upside stalled, sellers took control and pushed price down through $88,500. The slide accelerated enough to spike below $87,000, but the market didn’t free-fall. Bulls defended the $85,000 zone, printing a low at $85,151. Since then, Bitcoin has been consolidating below the 23.6% Fibonacci retracement of the drop from the $93,560 swing high to the $85,151 low — a clue that the bounce is still shallow and that sellers haven’t fully backed off yet. Structurally, BTC is still on the back foot: It’s trading below $88,000, and It remains below the 100-hour Simple Moving Average, keeping short-term trend pressure pointed downward. Resistance is layered, and $89,000 is the problem area（h3） If bulls try to turn this into a recovery, they’ll have to climb through multiple ceilings in quick succession. First, BTC faces resistance around $87,150, followed by a more meaningful barrier near $87,500. From there, the market’s attention snaps back to $88,000 — the level BTC just lost and now needs to reclaim. A close back above $88,000 would improve the tone, but it doesn’t solve the bigger issue: there’s a bearish trend line on the hourly BTC/USD chart (Kraken feed) with resistance near $89,000, which also lines up with the next technical hurdle. If BTC can push through $89,000 and hold, the rebound could extend toward $90,000, with follow-through targets at $91,000 and $91,500. But until price clears that $88,000–$89,000 zone, rallies are at risk of being sold rather than chased. If BTC fails to reclaim resistance, the downside path is clear（h3） The near-term bear case is simple: if Bitcoin can’t climb back above the $87,000 area and keep traction, sellers may attempt another leg lower. Support levels line up like this: Immediate support: $85,500 First major support: $85,000 Next support: $83,500 Then $82,500 in the near term Below that, the major “don’t break this” level is still $80,000. If BTC slips under $80,000, the risk of acceleration to the downside increases significantly — not because it’s magic, but because it’s the kind of psychological and structural level that tends to trigger forced de-risking. Indicators: momentum still leans bearish（h3） The intraday indicators aren’t offering much comfort yet: Hourly MACD is losing pace in the bearish zone. Hourly RSI remains below 50, suggesting sellers still have the upper hand on short timeframes. So while the $85,000 defense held for now, the market hasn’t flipped bullish — it’s just stopped bleeding.

Author Mitrade

8 hours ago

Bitcoin has dropped back below $88,000 after rolling over from $90,500, with price still trading under the 100-hour Simple Moving Average. The sell-off found a floor at $85,151, and BTC is now consolidating near that base, but rebounds are facing pressure from a bearish trend line around $89,000. Bulls need to retake $88,000–$89,000 to ease downside risk; failure to do so keeps $85,500–$85,000 and then $83,500 in play, with $80,000 as the deeper “line in the sand.” Bitcoin (BTC) is back in damage-control mode after a sharp pullback wiped out recent gains. The price failed to reclaim the $90,000–$90,500 band, rolled over, and slid through $88,500 before briefly dipping under $87,000. Buyers did show up around $85,000, but the rebound so far looks more like stabilization than a clear trend reversal. Bitcoin dips hard, finds a bid near $85,000（h3） BTC’s latest move lower began when it couldn’t build follow-through above $90,000 and $90,500. Once that upside stalled, sellers took control and pushed price down through $88,500. The slide accelerated enough to spike below $87,000, but the market didn’t free-fall. Bulls defended the $85,000 zone, printing a low at $85,151. Since then, Bitcoin has been consolidating below the 23.6% Fibonacci retracement of the drop from the $93,560 swing high to the $85,151 low — a clue that the bounce is still shallow and that sellers haven’t fully backed off yet. Structurally, BTC is still on the back foot: It’s trading below $88,000, and It remains below the 100-hour Simple Moving Average, keeping short-term trend pressure pointed downward. Resistance is layered, and $89,000 is the problem area（h3） If bulls try to turn this into a recovery, they’ll have to climb through multiple ceilings in quick succession. First, BTC faces resistance around $87,150, followed by a more meaningful barrier near $87,500. From there, the market’s attention snaps back to $88,000 — the level BTC just lost and now needs to reclaim. A close back above $88,000 would improve the tone, but it doesn’t solve the bigger issue: there’s a bearish trend line on the hourly BTC/USD chart (Kraken feed) with resistance near $89,000, which also lines up with the next technical hurdle. If BTC can push through $89,000 and hold, the rebound could extend toward $90,000, with follow-through targets at $91,000 and $91,500. But until price clears that $88,000–$89,000 zone, rallies are at risk of being sold rather than chased. If BTC fails to reclaim resistance, the downside path is clear（h3） The near-term bear case is simple: if Bitcoin can’t climb back above the $87,000 area and keep traction, sellers may attempt another leg lower. Support levels line up like this: Immediate support: $85,500 First major support: $85,000 Next support: $83,500 Then $82,500 in the near term Below that, the major “don’t break this” level is still $80,000. If BTC slips under $80,000, the risk of acceleration to the downside increases significantly — not because it’s magic, but because it’s the kind of psychological and structural level that tends to trigger forced de-risking. Indicators: momentum still leans bearish（h3） The intraday indicators aren’t offering much comfort yet: Hourly MACD is losing pace in the bearish zone. Hourly RSI remains below 50, suggesting sellers still have the upper hand on short timeframes. So while the $85,000 defense held for now, the market hasn’t flipped bullish — it’s just stopped bleeding.

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Beginners

Bitcoin eyes return above $109,000, unpacking the effect of Donald Trump’s first week on crypto

Bitcoin traders rejoice as crypto President takes charge

Why large investors at Davos are unimpressed with Trump’s Bitcoin strategy

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