News & Analysis / Analysis / Bitcoin Price Holds Above $100k. For Now?

Bitcoin Price Holds Above $100k. For Now?

FXOpen

In our previous analysis of the BTC/USD chart, we highlighted the increasing volatility in the cryptocurrency market leading up to Trump’s inauguration.

Today, the BTC/USD chart shows that the presidential inauguration triggered a peak in the ATR indicator, reflecting heightened market activity amid the launch of $TRUMP and $MELANIA memecoins. Crypto enthusiasts closely followed mentions of cryptocurrencies in Trump’s speech.

The last time the market was this volatile was in May 2022, when Bitcoin's price plummeted following news of the collapse of the TerraUSD (UST) stablecoin and its associated LUNA token.

What could this current spike in activity signify?

Such an active and broad market creates opportunities for significant capital to adjust portfolios—perhaps locking in profits from long positions and opening short positions.

Technical analysis of the BTC/USD chart reveals that:

→ Bitcoin’s price movements since Trump’s victory in early November have established an upward trend, forming a channel (marked in blue on the chart).
→ As of today, the price has rebounded from the lower boundary of this channel, and the bearish break below the psychological $100k level proved to be false.

However, what if significant players have insights into upcoming events that could have a bearish impact on the Bitcoin market? If such events occur, they may drive the price below $100k and lead to an attempt to break the channel’s lower boundary.

FXOpen offers the world's most popular cryptocurrency CFDs*, including Bitcoin and Ethereum. Floating spreads, 1:2 leverage — at your service. Open your trading account now or learn more about crypto CFD trading with FXOpen.

*Important: At FXOpen UK, Cryptocurrency trading via CFDs is only available to our Professional clients. They are not available for trading by Retail clients. To find out more information about how this may affect you, please get in touch with our team.

This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

Stay ahead of the market!

Subscribe now to our mailing list and receive the latest market news and insights delivered directly to your inbox.

forex

Instrument
Live ECN bid
Live ECN ask
Action
EURUSD
1.04515
1.04515
Trade
GBPUSD
1.26154
1.26154
Trade
AUDUSD
0.63603
0.63607
Trade
USDJPY
151.852
151.859
Trade
USDCAD
1.41809
1.41825
Trade
More
Crypto CFD Trading with FXOpen

Crypto CFD Trading with FXOpen

Experience ECN technology for deep liquidity and light-speed trade execution

  • Access over 40 markets 24/7
  • Trade with tight spreads and low commissions
  • Choose from 3 trading platforms: MT4, MT5, or TickTrader
Learn more

Latest articles

Shares

Warren Buffett Sells Bank Shares

On Friday, Berkshire Hathaway’s 13F filing (a quarterly report required by the U.S. Securities and Exchange Commission from institutional investment managers overseeing more than $100 million in assets) revealed that Warren Buffett’s company:

→ Maintained its Apple (AAPL)

Forex Analysis

AUD/USD Trades Near Year’s High After RBA Decision

Today, the Reserve Bank of Australia (RBA) eased monetary policy, cutting the interest rate from 4.35% to 4.10%, according to Forex Factory.

As reported by Reuters:
→ This marks the first easing since the 2020 pandemic;
→ RBA Governor Michele

Market Insights with Gary Thomson: RBA Rates, UK and Canada’s Inflation, Metals, Earnings Reports
Financial Market News

Market Insights with Gary Thomson: RBA Rates, UK and Canada’s Inflation, Metals, Earnings Reports

In this video, we’ll explore the key economic events, market trends, and corporate news shaping the financial landscape. Get ready for expert insights into forex, commodities, and stocks to help you navigate the week ahead. Let’s dive in!

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 60% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.