Senator Lummis, recently appointed Chair of the Senate Banking Subcommittee on Digital Assets, expressed optimism about bipartisan cooperation to advance Bitcoin-related legislation.
BTC Price Outlook: Record Highs in Sight?
BTC’s price trends hinge on Trump’s executive orders, SBR developments, and US BTC-spot ETF flows.
US BTC-spot ETF inflows and progress toward a US SBR could drive BTC beyond the record high of $108,231. Conversely, a lack of progress toward an SBR and BTC-spot ETF outflows could pull BTC toward $95k.
Dive deeper into the influence of macroeconomic data, US crypto policies, and BTC-spot ETF market flows on price action. Follow our analysis and forecasts here to manage crypto-related risks.
Technical Analysis
Bitcoin Analysis
BTC sits above the 50-day and 200-day Exponential Moving Averages (EMA), sending bullish price signals.
A break above $105k could signal a move toward the all-time high of $108,231. A breakout from $108,231 may enable the bulls to target $110k next.
Investors should consider US government-related activity and US BTC-spot ETF market-related news.
Conversely, a BTC drop below $100k could signal a fall toward the 50-day EMA. A break below the 50-day EMA may bring the $90,742 support level into play.
With a 61.59 14-day Relative Strength Index (RSI) reading, BTC could rise above its all-time high before entering overbought territory (RSI above 70).