Bitcoin (BTC) Price Ready for an Electrifying Rally Beyond $100k Ahead of Donald Trump’s 2nd Inauguration
Bitcoin (BTC) price closed at the Dragonfly Doji candlestick on Monday, suggesting heavy buying from investors speculating on underlying bullish sentiment in the coming weeks. The flagship token fell below $90,000 on Monday, hitting a daily low of around $89,171, before rising more than 6% during early trading in New York on Tuesday, January 14, trading at around $96,500.
Due to the recent rebound, market traders Peter Brandt thinks Bitcoin price is now ready for its next surge above $100,000. Furthermore, Bitcoin is already in a price discovery phase, with every adjustment viewed as a buying opportunity by most investors.
Next top reasons to bet $100,000 on Bitcoin price
With massive liquidations in the leveraged Bitcoin market involving both long and short traders, crypto trader Michaël van de Poppe believes that a sustained close above $95,000 in the coming days will set the stage for a rebound to $104,000.
Additionally, Bitcoin price has established strong support above $92,000, increasing investor confidence for further gains. Poppe said the upcoming inauguration of crypto-supporting U.S. President-elect Donald Trump will fuel bullish sentiment.
Trump has already hinted at issuing a presidential directive regarding the cryptocurrency industry on his first day in office.
Meanwhile, as the Federal Reserve prepares to release its first interest rate decision of 2025 later this month, Poppe emphasized that next week’s inflation data will be the main factor affecting BTC price trends.
glimmer of hope
BlackRock’s IBIT reported a net cash inflow of $29.46 million on Monday after recording its highest cash outflow since its inception last week. More institutional investors, led by MicroStrategy Inc., continue to relentlessly accumulate more Bitcoin as a hedge against inflation and ongoing fiat currency devaluation.
Therefore, it’s safe to bet on Bitcoin price growth in the coming months, driven primarily by mainstream adoption by institutional investors and soon nation-states.
