The price of Bitcoin is nearing $97,000, facing strong resistance around $99,000, even though CME futures have surpassed $100,000. Analysts anticipate a possible breakthrough of $100,000 this weekend. Markus Thielen is optimistic about this breakthrough and notes that a pullback could help alleviate the overbought conditions.
He warned that the Federal Reserve's decision could become a short-term resistance. Despite the short-term challenges, Thielen believes that Bitcoin will break through $100,000 in the coming weeks. The market generally believes that Trump’s ascension will drive Bitcoin prices up, with a promise to establish a national Bitcoin reserve.
Polymarket predicts a 29% chance that Trump will take relevant action within the first 90 days of his term. The outlook for Bitcoin is positive, and cryptocurrency applications may usher in a new golden age.
