- Bitcoin trades at $99.5K, posting a modest gain of over 5% in the last 24 hours.
- Donald Trump’s AI Crypto Czar will hold a press conference to outline the digital asset regulatory plans.
Donald Trump’s AI Crypto Czar, David Sacks, is scheduled to hold a press conference today at 2:30 PM Eastern Time, where he is expected to outline the U.S. government’s plan for the leadership strategy in the digital asset domain.
The press conference schedule features a lineup of GOP lawmakers and pro-crypto politicians including Senate Agriculture Committee chair John Boozman, House Agriculture Committee chair G.T. Thompson, Senate Banking Committee chair Tim Scott, and House Financial Services Committee chair French Hill.
Notably, Perianne, founder and CEO of the Digital Chamber, view this collaboration between Congress and the administration as a positive step and stated:
“Very good sign to see multiple Congressional committees come together with the Administration to deliver a unified message. The pro-crypto admin and Congress are preparing to make big moves.”
On the other hand, ahead of the conference, Bitcoin has rebounded to $102.5K after a major market crash caused by Trump’s tariff. Over the last day, BTC experienced a pullback, dropping toward $92.5K. The asset has shown resilience, with the bulls eyeing higher targets.
At press time, Bitcoin traded at $99,577, spiking over 5.69%. The asset’s intraday fluctuations are observed between $94,354 and $102,420. Consequently, BTC has stepped into the greed zone as the Fear and Greed Index stays at 72.
Is BTC About to Soar or Crash?
Bitcoin’s four-hour candlestick chart has exhibited an overall bearish outlook. Assuming the asset’s failure to hold above the current trading level, it could retest the $97,864 support. If the BTC market turns intensely bearish, the price might drop toward $95K.
From a bullish perspective, the BTC price could climb to the $101,261 level. Amid a raging bull run, Bitcoin might break the $102K mark and would potentially rally toward reclaiming the $105K range.
The Moving Average Convergence Divergence (MACD) line of Bitcoin is above the signal line, but both are located below the zero line. This crossover indicates a weak bullish momentum within a broader bearish trend.
Moreover, BTC’s Chaikin Money Flow (CMF) indicator settled at 0.16, highlighting the positive money flow and moderate buying pressure. Meanwhile, the daily trading volume of the asset has plunged by over 14.13% to $82.37 billion.
The asset has displayed the short-term 50-day MA above the long-term 200-day MA. Besides, the daily relative strength index (RSI) at 46.50 infers the current market sentiment is neutral to slightly bearish. While a drop below 40 may lead to increased selling pressure.
Disclaimer: The opinion expressed in this article is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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