Bitcoin’s recent rally has captured market attention, with prices surging due to optimism surrounding Donald Trump’s second presidential term. However, this bullish momentum may face headwinds by the end of January, according to Markus Thielen, founder of 10x Research.
In a 10x Market Updates report, Thielen outlined the expected trajectory for Bitcoin, projecting an end-of-month price range between $97,000 and $98,000. The analysis also highlighted key macroeconomic events that could influence market dynamics, including the release of the U.S. Consumer Price Index (CPI) and the Federal Open Market Committee (FOMC) meeting.
Analysis of the Current Bitcoin Rally Trump Inauguration as a Catalyst
The expectation of Donald Trump’s inauguration on Jan. 20 has been a major driver behind Bitcoin’s recent rally.
Early-Month Momentum
Bitcoin is expected to maintain its positive momentum through the early part of January, driven by:
Strong Market Sentiment.
Anticipation of Supportive Policies.
Key Macro Events That Could Impact Bitcoin 1. U.S. Consumer Price Index (CPI) Data Release on Jan. 15
The release of CPI data could influence Bitcoin’s trajectory as investors assess inflation trends and their impact on interest rates.
Potential Market Reaction:
Higher-than-expected inflation: May lead to a market pullback.
Lower-than-expected inflation: Could sustain the rally.
2. Trump’s Inauguration on Jan. 20
The inauguration is likely to bolster short-term optimism in the crypto market, potentially driving Bitcoin prices toward the $97,000–$98,000 range.