BTC in Price Discovery Mode Following Record High

Traders are eyeing $100,000 as the next level of interest for bitcoin’s price, though there is likely to be a period of consolidation first, according to some analysts. BTC is riding the wave of President-elect Trump’s victory and the Fed’s expected 25 basis-point interest rate cut on Thursday. There are some concerns about a short-term pullback given Trump’s proposed tariffs on China and fiscal concerns like rising national debt. BTC is “defending its top,” Alex Kuptsikevich, senior market analyst at FxPro, told CoinDesk. “In general, we stick to the idea that the new highs have triggered a powerful new growth wave with the potential to rise to $100-110K within 2-3 months without any significant shakeout.”