After a weekend full of expectations, the queen of cryptocurrencies, Bitcoin, failed to surpass US$ 100 thousand.
Amid expectations for US economic data and the Trump administration’s appointment of a pro-crypto commerce secretary, the cryptocurrency is struggling on Monday and trading lower. As of this writing, BTC is trading below $96,000. We asked crypto executives, what’s next?
Industry sees Bitcoin at $100,000, but awaits Trump's inauguration
Well, I think everything happened very quickly after Trump's election, said the report, Vice President of New Business at Mercado Bitcoin, Fabrício Tota.
Tota stressed that the price rose very quickly and “this $100,000 barrier is much more psychological than anything else.”
I'm sure it will be overcome in a short time. What do we need to overcome it? Facts. We have already seen some announcements from companies, mainly from the North American financial system, announcing initiatives related to bitcoin, to the crypto world. This should become something even more common in the coming days.
For the MB executive, the market will still go through a period between these announcements of companies “preparing to enter crypto with both feet” starting next year.
And nothing is by chance. Fabrício Tota also mentioned the departure date of the current SEC chairman, Gary Gensler. He will leave office on the exact same day and time as Donald Trump's inauguration, on January 20.
From then on we will have more elements to see if the speed at which things will happen is the speed anticipated by the market, largely reflected in the price of bitcoin in recent weeks, or if we will have a slower pace, and enter the bureaucracy, how agile it is, and how much of a priority the crypto agenda will be in the Trump administration.
In other words, the market has less than two months until it begins to receive the first concrete responses from the new Trump administration, concludes Tota.
Coinbase bullish on Bitcoin forecast
Coinbase is bullish after BTC hit new highs, peaking above $99,000 last Thursday (21).
We believe this strong price action was supported by a combination of factors that include the listing of options on US spot bitcoin ETFs, the possibility of a strategic reserve of Bitcoin by the US government, and related announcements from the corporate and legislative sectors, explains Coinbase's regional director for the Americas, Fabio Plein.
Plein also cited the recent surge in ETFs, the growing market value of stablecoins and likely future regulatory developments as factors reinforcing Coinbase's positive outlook for the sector in the coming months.
Expert sees correction and drop of up to 20% in BTC price
Bitybank crypto expert Israel Buzaym said that Bitcoin’s resistance to breaking $100,000 mainly reflects a significant barrier of sell orders. This reinforces the importance of this range as both a psychological and technical resistance.
In my opinion, this correction could deepen even further, and a drop of up to 20% would be healthy to sustain the upward movement in the medium and long term, says Buzaym.
With capital shifting to other crypto assets, the market’s attention is turning to altseason, with Ethereum (ETH) and Solana (SOL) in the spotlight. Base layer coins are the biggest candidates to capture this liquidity, given their essential role in the crypto ecosystem.
He also cited the macroeconomic scenario in the US, favorable to the crypto industry, saying that 2025 could be an even better year for Bitcoin.
Ripio analyst sees support at $91,200
Ana de Mattos, Technical Analyst and Partner Trader at Ripio, believes that if “the downward movement continues in the short term, there will be support at US$ 91,200. And if the price loses this region, the next long-term support is in the liquidity region of US$ 80,400.”
However, if buying forces reverse the movement, short-term resistance is at $99,588. If overcome, the price of Bitcoin could seek an upward target of $100,000 – $105,000 in the short term.
The article Executives assess scenario after Bitcoin fails to reach US$ 100 thousand was seen for the first time on BeInCrypto Brasil.
