Bitcoin Recovers Above $90K Following Trump’s Crypto Reserve Announcement
Bitcoin is currently trading above $90K after a recovery from last week's drop to $78,100. This rebound followed President Trump's announcement of a U.S. strategic crypto reserve, which includes Bitcoin and select altcoins.
Key points include:
- Current price: $92K
- Support levels: 200-day SMA at $82,314 and realized price for short-term holders at $79,290
- Resistance levels: realized price for short-term holders at $97,478 (1-week to 1-month) and $99,395 (1-month to 3-month)
- Market sentiment shifted from bearish to bullish rapidly
- Analysts suggest that maintaining above $90K is crucial for continued upward momentum
- Next few days are critical for potential breakout or further selling pressure
The market is closely watching whether Bitcoin can reclaim the $100K level, as surpassing this could indicate a strong bullish trend. Failure to hold above $90K may lead to renewed bearish activity.
