Bitcoin is trading around $75,000 following Donald Trump’s victory in the U.S. election, which has sparked optimism in the crypto market due to his pro-crypto stance. This development has led to expectations of favorable digital asset policies, resulting in speculation of a new rally phase.
Key data from CryptoQuant indicates Bitcoin has reached a price equilibrium, suggesting stability and a bullish outlook. Analysts believe that fewer obstacles may be present in the coming weeks, creating a critical moment for Bitcoin to solidify its position in a supportive policy environment.
Bitcoin has officially entered a bullish phase, breaking past its previous all-time highs. It now faces potential resistance at $76,500. Analyst Axel Adler notes that the market is currently balanced between a “Bubble” and “Crash” phase, providing a stable foundation for continued upward trend.
The upcoming Federal Reserve’s interest rate decision is expected to be pivotal for Bitcoin's momentum. A stable or favorable decision could reinforce market optimism, drawing new demand and maintaining Bitcoin above $76,000. Institutional activity is likely to increase at this juncture.
Bitcoin’s price action shows no current downturn indicators, maintaining a steady uptrend and robust support levels. The $73,000 mark is a critical psychological threshold for sustaining momentum, potentially inviting more buying pressure and new highs.
