Bitcoin price is close to $97,000, facing strong resistance around $99,000, although CME futures have surpassed $100,000. Analysts expect a potential breakthrough of $100,000 this weekend. Markus Thielen is optimistic about this breakthrough and notes that a pullback may help alleviate the overbought condition.
He warned that the Federal Reserve's decisions could become short-term resistance. Despite the short-term challenges, Thielen believes Bitcoin will break through $100,000 in the coming weeks. The market generally believes that Trump's arrival will drive Bitcoin's rise, with a promise to establish a national Bitcoin reserve.
Polymarket predicts a 29% chance that Trump will take related action within 90 days of his term. The outlook for Bitcoin is positive, and cryptocurrency applications may usher in a new golden era.