Bitcoin Approaches $100,000 Ahead of Trump Inauguration

Bitcoin's price fluctuated significantly following Donald Trump's election victory, reaching an all-time high of $108,000 in December before dropping to around $96,793 amid macroeconomic pressures. Analysts from K33 Research have adjusted their stance, expressing caution despite the pro-crypto sentiment expected from Trump's upcoming inauguration. Predictions suggest Bitcoin could rally beyond $100,000, fueled by anticipated executive orders addressing crypto regulations on Trump's first day in office. Pantera Capital and other analysts believe that the inauguration could catalyze a bullish trend, contrasting traditional market behavior of 'buy the rumor, sell the news'. Key factors contributing to this optimism include low exchange reserves and increased institutional buying. However, some experts warn that low trading volumes may hinder short-term momentum, indicating a mixed outlook for the cryptocurrency market.