Traders see limited upside for Bitcoin at $105,100 amid uncertainty
Bitcoin (CRYPTO:BTC) traders are recalibrating their expectations following a recent executive order by President Donald Trump concerning digital assets.
The order, signed on January 23, aims to establish a working group to explore the creation of a national digital asset stockpile.
However, the lack of specific actions related to Bitcoin has led to a more cautious outlook among traders.
Nick Forster, founder of the on-chain options protocol Derive, stated that the market is now seeing "limited upside" for Bitcoin in the short term.
He pointed out that on January 24, an impressive 83.3% of Bitcoin options contracts were "calls sold," indicating that traders anticipate the price will either remain stable or decline.
“Without real, actionable steps, like the creation of a national reserve, the market isn’t buying in,” Forster commented.
The executive order has generated mixed reactions within the Bitcoin community.
While it aims to enhance U.S. leadership in cryptocurrency, many critics feel that the vague nature of the announcement falls short of expectations for immediate action.
“Traders were expecting concrete actions, not vague promises,” Forster further noted, highlighting that hype alone is insufficient to drive market momentum.
Filbfilb, a longtime trader and analyst, expressed doubts about Bitcoin maintaining its current price level due to uncertainties surrounding the strategic reserve.
He suggested that while there is potential for Bitcoin to reach targets as high as $180,000 by 2025, immediate prospects remain unclear.
At the time of reporting, the Bitcoin (BTC) price was $101,515.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Metaplanet’s Daring Move: Japan Firm Invests $25M More in Bitcoin, Acquires Additional 555 BTC
Metaplanet Strengthens Institutional Demand with Bitcoin Strategy - Leads to Stock Gains and Expands Global Crypto Investment

New Hampshire Takes Lead in Bitcoin Reserve Legislation: Are Other States Next?
New Hampshire Takes Lead in Crypto Legislation: Sets Precedent with Bitcoin Reserve Law Post Arizona's Rejection

New spot margin trading pair — SXT/USDT!
Bitcoin Magazine CEO to Launch $300M Investment Firm
Trending news
MoreCrypto prices
More








