In the past month, Bitcoin (BTC) has experienced significant fluctuations influenced by major economic factors. Last week, concerns over US-China trade relations led to capital outflow from high-risk assets, including cryptocurrencies. However, Bitcoin price has stabilized around $96,000 in the last two days, halting the 5% decline from the previous week. This indicates strong institutional demand and increased investor confidence. Reports suggest that Trump’s media group’s entry into the cryptocurrency investment sector may have played a role in setting this price floor. Trump Media and Technology Group (TMTG) with six trademarks related to cryptocurrency investment products, including Bitcoin ETFs, has expanded its presence in this field. These products enable retail and institutional investors to access Bitcoin and key economic sectors. TMTG has allocated $250 million for the launch of this financial brand and chosen Charles Schwab as its asset custodian. Although the company has not yet submitted its approval request to the US Securities and Exchange Commission (SEC), collaborating with Charles Schwab could help increase institutional acceptance of Bitcoin. Charts indicate that Bitcoin is on the verge of a bullish breakout. If the price candle closes above $97,500, the possibility of moving towards $100,000 will increase. In the bullish scenario, $106,457 is considered the upper limit of the DC Channel, and Bitcoin may reach this level with increased buying pressure. On the other hand, the key support is at $91,231, which can prevent further decline if the price decreases. Recent decrease in trading volume could indicate capital accumulation before a major move. If Bitcoin can overcome the $98,844 resistance, the uptrend will intensify, targeting $100,000 next. However, failure to reclaim this level may lead to another drop to the $92,000 support. Visit the momentary digital currency price page to observe live prices of all tokens and cryptocurrencies.
