Bitcoin (BTC) price consolidates ahead of Trump's 100-day speech

Bitcoin (BTC) price is consolidating in a tight range ahead of President Donald Trump’s 100-day commemorative rally, which might offer new insights into crypto policy.

As the cryptocurrency market continues to recover, new data from cryptocurrency derivatives exchange FTX’s offshore branch in the Bahamas showed that the price of Bitcoin is set to rise further if the U.S. president mentions crypto in his speech.

According to Polymarket’s predictions, there is a 24% chance that Trump will bring up “crypto” or “Bitcoin” during his 100-day speech on April 29.

The president’s words could have a significant impact on the market, especially given the previous instances where his comments led to short-term price surges.

Earlier this year, Trump’s statements on tariffs on goods from China sparked a rally in the crypto market from $74,400 to $94,000.

However, while Trump’s speech might introduce positivity and potential for price spikes, it’s crucial to consider broader market dynamics.

With the potential for Trump to discuss his administration’s strategic Bitcoin reserve proposal and the possibility of a new bull market, the stage is set for an eventful few months in the cryptocurrency domain.

Bitcoin price analysis: BTC stalls as over $4.7 billion exits exchanges

Investors have pulled more than 50,500 BTC (worth $4.7 billion) from exchanges since easing macroeconomic tensions triggered a market-wide rally.

The decreased exchange supply reduces the amount of BTC available for selling, rendering the cryptocurrency more sensitive to shifts in demand, which might increase following Trump’s speech.

As macroeconomic uncertainty lessens and market participants digest the implications of recent price movements, the stage is set for heightened sensitivity to any new positive news that could emerge from Trump’s administration.

Popular Bitcoin analyst AlphaBTC highlighted in an April 29 X post that the cryptocurrency price is slowly compressing and making higher lows under the $96K resistance.

"The more attempts into the $95K, the more likely it will push through. Then we'll likely get that squeeze to the 100K level," the analyst stated.

Making similar observations, Daan Crypto Trades said that BTC Price is compressing again over the last few days after the move back into the previous range.

According to Daan Crypto Trades, a key level to watch on the downside is the 200-day simple moving average (SMA) within the $89,500 and $91,000 range.

Major resistance levels are the $99,5000 local high and "the big psychological $100K area," the analyst explained, adding: "We'll see if that holds."

Healthy market fundamentals could propel Bitcoin price past $100,000 to new all-time highs.

Meanwhile, Peter Chung, head of research at quantitative trading firm Presto, has predicted that Bitcoin will reach $210,000 in 2025.