Bitcoin (BTC) soared to a record-breaking high of $81,888 on Monday, driven by bullish market sentiment and the continued “Trump effect.” With this surge, the overall cryptocurrency market capitalization climbed to an impressive $2.75 trillion, according to data from CoinMarketCap. At the time of writing, Bitcoin was trading at $80,885, up 0.6% on the daily chart, with technical indicators signaling the potential for further upside in the coming sessions.
Bitcoin Leads the Market Rally
Unlike the mid-year rally dominated by meme coins, Bitcoin is now leading the charge, bringing renewed optimism to the entire cryptocurrency market. This dominance has strengthened market confidence, with many investors now eyeing the elusive $100,000 milestone before year-end.
The upbeat sentiment extends beyond spot markets, with ETF flows reflecting increased investor demand. According to Coinglass, Bitcoin-related ETFs recorded daily inflows of $1.36 billion on Sunday, setting new records and signaling robust institutional interest.
Trump Administration’s Impact on Crypto Regulation
The Trump administration is expected to shake up the regulatory environment, particularly at the Securities and Exchange Commission (SEC). Former President Trump has openly criticized current SEC Chair Gary Gensler and indicated plans to replace him. Gensler’s tenure has been marked by a strict stance on cryptocurrencies, and his potential removal is seen as a positive development for the industry. Investors are optimistic that a new regulatory framework could pave the way for broader adoption and a friendlier market environment.
Bitcoin Price Prediction: Key Levels to Watch
- Pivot Point: Bitcoin currently pivots at $81,025, a critical level for maintaining the uptrend.
- Upside targets:
- $81,315: The first key resistance level that buyers will need to clear.
- $81,684: A more significant resistance that could open the door to higher levels if breached.
- Downside support:
- $80,652: Immediate support in case of a minor pullback.
- $80,430: A deeper support zone that could be tested if bearish momentum builds.
A move below $81,025 could strengthen sellers, potentially invalidating the bullish narrative. On the flip side, holding above this pivot will likely keep buyers in control and fuel further upside in the days ahead.
