During 2024’s presidential election, the crypto industry gave generously to Donald Trump, lobbying hard for him to win. Now that their guy is in the White House, they’re hoping he will deliver on his promise to make America the “world capital” of cryptocurrency.

Skew referenced a “well defined consolidation” taking place on BTC/USD, flagging $102,000 and $106,000 as the key levels for bulls to capture definitively. “$106,000 is what i want to see on Bitcoin today,” fellow trader Crypto Tony agreed. An accompanying chart maintained an increasingly popular near-term BTC price target of around $122,000.