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Bitcoin has had a tumultuous yet ultimately green week, up just about 1% despite all the hype around a potential executive order from President Trump establishing a Strategic Bitcoin Reserve.
That order never came, despite many teasing announcements that caused markets to turn choppy, with BTC whipsawing 2-3% multiple times on Thursday alone as expectations were thrown around. Still, the king coin stayed above the psychological $100K mark and currently sits near $105K, bolstered by U.S. dollar weakness as the DXY index hit its lowest since mid-December. With the SBR unlikely to happen for some time, eyes have shifted toward next week’s FOMC meeting and Magnificent Seven earnings, which may or may not provide more momentum for the market. All in all, best to sit tight.
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