$BTC $TRUMP
Bitcoin is once again approaching the $100,000 mark, fueled by investor optimism surrounding President Donald Trump's hints at a significant trade agreement. The cryptocurrency's price surged by 3.6% to $97,014 following announcements of upcoming U.S.-China trade talks aimed at easing tensions and reducing tariffs, which currently stand at 145% and 125% respectively.
This bullish momentum is further supported by the Trump administration's pro-crypto stance, including the introduction of a $2 billion investment deal involving Binance and MGX, backed by the Trump-supported firm World Liberty Financial. The deal introduces the USD1 stablecoin as the medium of transaction, positioning it as a contender in the stablecoin market.
Technical analysis indicates that Bitcoin has broken out from a descending channel and pennant pattern, signaling bullish momentum. Resistance levels are identified at $100,000 and $107,000, with support levels at $92,000 and $85,000.
While the market remains optimistic, experts caution about the inherent volatility of cryptocurrency markets. The sustainability of this growth depends on the realization of trade agreements and the implementation of crypto-friendly policies.
