Bitcoin is consolidating between $91,700 and $95,850 ahead of Trump’s upcoming 100-day speech. Over $4.7 billion worth of BTC has been withdrawn from exchanges, influencing supply and demand dynamics. Analysts highlight key resistance levels above $95,000, while Trump’s speech could either spur a price surge or pose risks with tariffs. Future predictions suggest Bitcoin could reach either $100,000 or $210,000 by 2025, though caution is advised for investors.
Bitcoin (BTC) is currently stuck in a limited price range, teetering between $91,700 and $95,850, as investors sit tight ahead of President Trump’s significant 100-day speech. The market is particularly eager for clarity on any crypto policies he might introduce. Recent weeks saw Trump’s administration hinting at various economic strategies, but specific updates concerning Bitcoin regulation are what everyone is keeping an eye on. Should there be positive revelations, BTC could very well climb closer to the coveted $100,000 mark.
Trump’s speech, set for April 29, is drawing attention, especially since betting platform Polymarket suggests there’s a 24% chance he will mention “crypto” or “Bitcoin.” Interestingly, more than $1 million has been wagered on this event already. Previous remarks from Trump, such as those around tariffs on Chinese goods, have been known to directly influence Bitcoin prices, so many traders are cautiously optimistic that his rhetoric could lead to another price surge.
Over the past few weeks, an impressive $4.7 billion worth of Bitcoin has exited exchanges, with over 50,500 BTC being withdrawn. This reduction in available supply could create a perfect storm for prices to rise further, especially if demand spikes post-speech. A lower supply means there are fewer coins available for selling, making any upticks in buyer interest more impactful on prices.
Bitcoin continues to hover just below the $96,000 mark, which many analysts note is a crucial resistance level. AlphaBTC, a well-known crypto analyst, highlighted a gradual upward trend—”BTC is slowly compressing and making higher lows under 96K resistance.” The analyst suggests that repeated attempts to breach the $95,000 level might eventually push Bitcoin past that threshold, leading it to the ultimate target of $100,000.
Fellow analyst Daan Crypto Trades echoed this sentiment, noting a potential for compression again as Bitcoin stabilises. Emphasising the importance of the 200-day simple moving average, he warned that should Bitcoin dip, critical support levels within the $89,500 to $91,000 range are crucial to watch. Major resistance levels in sight include recent highs around $99,500 and the very psychological resistance at $100,000—points that traders will certainly keep a lookout for.
Positive fundamentals in the broader market could be the catalyst Bitcoin needs to ascend into uncharted territory above the $100,000 mark. Looking even further ahead, Peter Chung from Presto’s research team is sticking to his long-term forecast—he anticipates Bitcoin could reach a staggering $210,000 by 2025. As always, however, potential investors are reminded to tread carefully. This article certainly doesn’t amount to investment advice, and every trading decision carries inherent risks while demanding thorough research.
