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Up coming movements about Bitcoin with char explain

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As of January 17, 2025, Bitcoin (BTC) is trading at approximately $102,774. 

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Bitcoin (BTC)

$102,774.00

+$5,203.00(+5.33%)Today

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The cryptocurrency market is experiencing significant movements influenced by various factors:

Political Developments: The inauguration of President Donald Trump is anticipated to bring pro-crypto policies, including potential executive orders aimed at fostering a favorable regulatory environment. Speculations suggest initiatives such as establishing a strategic Bitcoin reserve and revising SEC accounting policies. 

Investor's Business Daily

Market Predictions: Analysts have diverse forecasts for Bitcoin's trajectory. Some predict a surge to $225,000 by the end of the year, driven by favorable regulations and increased institutional adoption. 

Investor's Business Daily

 Others, like Anthony Scaramucci, foresee Bitcoin reaching $200,000, contingent on regulatory clarity and market dynamics. 

Business Insider

Technical Analysis: Bitcoin's recent price movements have broken a descending trendline, indicating a potential rally above $108,000. Key support levels are identified at $92,000 and $87,000, with resistance around the psychological $100,000 mark and significant $106,000 level. 

Investopedia

In summary, Bitcoin's future movements are influenced by anticipated pro-crypto policies under the new administration, optimistic market predictions, and technical indicators suggesting potential for further gains.