Analyst: Due to Trump's reaffirmation of establishing strategic reserves, BTC has not experienced a pullback. The market is expected to break through the new resistance level of $110,000
Driven by the U.S. strategic reserve plan, Bitcoin broke through $106,000 for the first time. IG analyst Tony Sycamore said: "The pullback many people expected did not happen because we now have a message that the market is expecting the next number to be $110,000." The analysis suggests that this so-called message refers to Trump reiterating his intention to establish a Bitcoin strategic reserve.
When asked in an interview with CNBC last week whether he planned to set up a crypto reserve similar to oil reserves, Trump replied: "Yes, I think so."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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