Bitcoin exhibits similar movement patterns as observed during the 2021 election cycle, potentially foreshadowing similar developments. Analysts discuss Trump's pro-crypto initiatives and their potential impact on the market.
Historical Parallels and Current Trends
According to analyst Lark Davis, Bitcoin is exhibiting trends similar to those from the 2021 presidential cycle, highlighting three phases in price changes that began with November 2024 rallies reaching $108,000, followed by a corrective phase due to political uncertainty.
Impact of Trump's Crypto Policies
ETHNews discusses how expected pro-crypto steps by the Trump administration could catalyze Bitcoin's growth. The new administration is anticipated to reevaluate regulatory measures and possibly establish a strategic Bitcoin stockpile.
Key Price Levels and Altcoins
Analyst Doctor Profit highlights the importance of closing above $95,900 to maintain bullish momentum. Altcoins show mixed performance: Ethereum posted marginal gains at $3,189, while XRP surged 7.30% to $2.75.
Bitcoin's stability and emerging support for cryptocurrencies from the new administration could be significant for market development, while altcoins present diverse results.
