BTC price retreats from $109k as Trump inaugural speech omits Bitcoin
Bitcoin sets new all-time high of $109,390 before pulling back below $102,700
Bitcoin price has experienced intense volatility in recent days, setting a new all-time high of $109,390 before pulling back below $102,700.
Despite the recent decline, the $100,000 level remains a key support, bolstered by technical indicators and bullish options market sentiment.
After reaching its peak, Bitcoin saw heightened volatility following President Donald Trump’s inauguration on Monday, January 20. The cryptocurrency's rally above the previous 2024 high of $108,200 came amid speculation of policy shifts, but its retreat below $102,700 early Tuesday highlights a struggle to sustain gains. By the European session, Bitcoin traded at $101,600, marking a solid 8.9% gain for the year.
BTC price dynamics (December 2024-January 2025). Source: TradingView.
Interestingly, this bullish sentiment persists despite no mention of cryptocurrencies in Trump’s inaugural speech or a GOP congressional report outlining legislative priorities. In the options market, data indicates a persistent bullish bias for Bitcoin. Deribit-listed call options remain more expensive than other altcoins, reflecting stronger investor demand for upward exposure. In addition, risk reversals tracked by Amberdata, which measure the implied volatility difference between calls and puts, continue to show positive values for Bitcoin.
Bitcoin price outlook: 100 EMA provides additional support to $100k pivot
Technically, the $100,000 pivot level has acted as a critical support zone for the past four days, limiting downside moves. The four-hour chart shows the RSI slipping into bearish territory, signaling waning momentum. However, the 100 EMA on the same timeframe provides additional support, reinforcing the significance of the $100,000 mark.
Hence, the key focus shifts to whether Bitcoin can maintain support above $100,000. A decisive break below this level could shift sentiment, while a recovery above $102,700 would suggest renewed bullish momentum.
Bitcoin price fluctuations occurred as meme tokens like TRUMP and MELANIA captured market attention. Bitcoin climbed to $106,500 before retracing to $101,500, closing on a slight dip.
