The cryptocurrency market has experienced one of the most active days in its history in the last 24 hours. Bitcoin $105,174.1The price of has gained strength with these developments. US President Donald Trump has signed executive orders that may have a stronger impact than expected. President Trump banned the creation of Central Bank Digital Currencies (CBDC) and promised to make the United States the “Cryptocurrency Capital of the World.” Also Bitcoin, Ethereum 
$3,399.4 It has initiated efforts to create a digital asset reserve consisting of cryptocurrencies such as.
Bitcoin is Preparing for Historic Highs
During Trump’s first term in the White House, the cryptocurrency market made a big rise. At that time, the price of Bitcoin gained over 1,900 percent and Ethereum gained about 14,000 percent. Now the possibility of a similar movement is on the agenda again.
Bitcoin is currently hovering around $105,000 and giving strong bullish signals. However, large investors known as whales are neither selling nor buying for now. This is the biggest weekly closing cryptocurrencyIt shows that it will be critical to the future direction of the price of .
Bitcoin has traded in a specific price range for the last three months, jumping to a higher range in the process. The significant increase in trading volume reveals that the market is largely under the control of the bulls. Relative Strength Index The upward movement of the (RSI) indicator indicates the possibility of a break above the $108,000 level.
$110K May Be Difficult to Exceed
BTCIt may not be easy for it to surpass the $109 thousand level and reach $110 thousand. Currently, more than $240 million of short positions have accumulated around $106 thousand. A breakout of this zone could trigger a short-term pullback. However, the bulls now seem ready to push the price to a new high.
Maintaining persistence above $106,600 could pave the way for Bitcoin to reach new highs.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
