There’s been an increase in investments from American investors in the leading digital currency, Bitcoin (BTC), as they prepare for Donald Trump’s inauguration on Monday.
This pattern indicates that American investors are increasingly buying Bitcoin, which may point towards an increasing belief among them that the price will rise significantly after Donald Trump takes office as President.
Bitcoin Sees Increased Demand from American Investors
The escalating Coinbase Demand Index for Bitcoin suggests a growing interest in the top digital currency among U.S. investors. As per CryptoQuant’s analysis, this surge has reached an astounding 116% over the last week and currently stands at 0.02, which is above the zero mark.
The Coinbase Premium Index for Bitcoin shows the variation in its cost between Coinbase and Binance. When this index rises, it suggests a higher purchasing interest among U.S.-based investors, signaling an increase in regional demand.
As I prepare for my upcoming tenure, with my inauguration slated for Monday, there’s a buzz surrounding me as a proponent of cryptocurrency. This support has ignited discussions about possible favorable regulatory changes, leading to a surge of enthusiasm among U.S. investors regarding Bitcoin.
Contrasting with other regions, Asian investors seem to be adopting a more reserved approach. The Korean Bitcoin Premium Index, serving as an indicator of BTC’s price difference on Korean exchanges, is decreasing significantly. At present, it stands at 0.53, marking a steep drop of approximately 66% in the last seven days.
This decrease in purchases suggests a slowdown in shopping activity within the area, possibly due to the ongoing market compression period.
BTC Price Prediction: All-Time High Back on the Horizon
As an analyst, I’m observing that Bitcoin is trading slightly above a significant resistance level at approximately $102,538, currently standing at around $103,107 on the daily chart. If the ongoing accumulation by US investors continues, it could potentially fuel the momentum required for Bitcoin to surge towards its record high of $108,388.
In contrast, should purchasing activity decrease, there might be a tendency for the coin’s price to drop, potentially reaching around $95,513.
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2025-01-18 19:16