Source: Cointelegraph.com NewsKey takeaways:<\/p>\n
Bitcoin\u2019s price consolidates as the market awaits President Trump\u2019s 100-day speech.
\nOver $4.7 billion in BTC has been withdrawn from exchanges since April 22, reducing supply and boosting price sensitivity to demand.
\nTrump\u2019s crypto policy clarity could spark a BTC surge, but tariffs may cap gains.
\nTraders say Bitcoin price must clear key hurdles above $95,000 before continuing the uptrend to $100,000 and beyond.<\/p>\n
Bitcoin\u2019s (BTC) price is consolidating in a tight range between $91,700 and $95,850, ahead of Trump\u2019s 100-day commemorative rally. Source: Cointelegraph.com NewsKey takeaways: Bitcoin\u2019s price consolidates as the market awaits President Trump\u2019s 100-day speech. Over $4.7 billion in BTC has been withdrawn from exchanges since April 22, reducing supply… <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128194"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=128194"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128194\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=128194"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=128194"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=128194"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nBTC\/USD daily chart. Source: Cointelegraph\/TradingView\u00a0Market awaits Trump\u2019s 100-day speech
\nBitcoin investors have adopted a wait-and-see approach ahead of US President Donald Trump\u2019s speech to commemorate his 100th day in the White House on April 29.\u00a0
\nCrypto-related policies have been prominently featured so far in Trump\u2019s second-term presidency, but markets await crypto-specific regulatory updates on his economic policies.
\nClarity on his administration\u2019s strategic Bitcoin reserve proposal could trigger a move toward $100,000. However, renewed focus on tariffs or aggressive budget cuts could weigh on broader markets and cap Bitcoin\u2019s upside in the short term.
\nCryptocurrency betting platform Polymarket predicts a 24% chance of Trump mentioning \u201ccrypto\u201d or \u201cBitcoin\u201d in his 100-day speech today. Data from the platform showed users had poured more than $1 million into bets on the event.
\nPolymarket odds of what Trump will say in his 100-day speech. Source: Polymarket\u00a0Trump\u2019s rhetoric could drive short-term price surges, just like in the past. For example, Bitcoin\u2019s recent recovery from $74,400 to $94,000 was partly fueled by Trump\u2019s comments that tariffs on goods from China “will come down substantially.\u201d\u00a0
\nWhile the speech may spark optimism and price spikes, broader market dynamics, including tariffs and global trade tensions, could temper gains, as seen with recent crypto market fluctuations.
\nOver $4.7 billion in BTC leave exchanges
\nApart from possible positive comments from Trump, Bitcoin\u2019s declining supply on exchanges supports the bullish case for a rally toward $100,000.
\nInvestors have withdrawn over 50,500 BTC (worth $4.7 billion) from exchanges since easing macroeconomic tensions sparked a marketwide rally.
\nBitcoin reserve on exchanges. Source: CryptoQuantLower exchange supply reduces available BTC for selling, amplifying price sensitivity to demand, which could rise after Tump\u2019s speech.
\nWhen $100,000 BTC price?
\nBitcoin price has been consolidating below the $96,000 level over the last seven days, as data from Cointelegraph Markets Pro and TradingView shows.
\n\u201cBTC is slowly compressing and making higher lows under 96K resistance,\u201d said popular Bitcoin analyst AlphaBTC in an April 29 post on X.\u00a0
\nRelated: Bitcoin targets $115K as BTC supply metric nears ‘historic euphoria’ zone
\nAs Cointelegraph reported, the $95,000 level is a key resistance that the bulls needed to overcome to secure the recovery.
\n\u201cThe more attempts into the $95K, the more likely it will push through,\u201d AlphaBTC asserted, adding that the squeeze will likely take Bitcoin to the sought-after 100,000 level.
\n\u201cI expect a bigger pullback, but probably not until 100K has been taken out.\u201d
\nBTC\/USD 30-minute chart. Source: AlphaBTCWhile making similar observations, fellow analyst Daan Crypto Trades said, \u201cBTC Price is compressing again the past few days after the move back into the previous range.\u201d
\nAccording to Daan Crypto Trades, a key level to watch on the downside is the 200-day simple moving average (SMA) within the $89,500 and $91,000 range.
\nMajor resistance levels are the $99,5000 local high and \u201cthe big psychological $100K area,\u201d the analyst explained, adding:
\n\u201cThose are good levels to watch here in the intermediate term. Currently, it is just a waiting game of where this wants to head next in the short term.\u201d
\nBTC\/USD daily chart. Source: Daan Crypto TradesAs Cointelegraph reported, healthy market fundamentals could propel Bitcoin price past $100,000 to new all-time highs.
\nMeanwhile, Peter Chung, head of research at quantitative trading firm Presto, has reiterated his prediction that Bitcoin will reach $210,000 in 2025.
\nThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"