United

Bitcoin

Material

Donald Trump

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Bitcoin (BTC) continues to reach new all-time highs, with the market moving towards $73,000.</li> 
 <li>Donald Trump suggests he is open to allowing U.S. citizens to conduct BTC transactions.</li> 
</ul>  
<h2 id="bitcoin-s-bull-run-continues">Bitcoin’s Bull Run Continues</h2> 
<p>Bitcoin (BTC) once again reached new all-time highs as the market surged towards $73,000. </p> 
<p>This comes after a brief retracement following the weekly close, with the BTC/USD pair rebounding strongly during the Asia trading session. </p> 
<h2 id="trump-s-stance-on-bitcoin">Trump’s Stance on Bitcoin</h2> 
<p>The positive market sentiment was boosted by comments from United States Presidential candidate, Donald Trump. He expressed a subtle support for both Bitcoin and cryptocurrency in general. </p> 
<p>Although Trump denied purchasing Bitcoin himself, he hinted at being open to the idea of U.S. citizens conducting BTC transactions, referring to it as “an additional form of currency”. </p> 
<p>Bitcoin market observers are now watching closely to see where the bull market goes next. Keith Alan, co-founder of trading resource Material Indicators, suggested that $75,000 should be reached to tap into low-liquidity conditions and accelerate gains even more. </p> 
<p>Alan added that corrections of up to 50% within bull markets have been standard in the past. However, the buying pressure from U.S. spot Bitcoin exchange-traded funds (ETFs) could potentially tip the scales in favor of the bulls. </p> 
<p>Short BTC positions were hit hard by liquidations on the day, with the initial rise to $71,000 costing shorters around $30 million. Data shows that the first ten days of March liquidated approximately $500 million of shorts. </p> 
<p>Finally, resistance is now sitting at $72,800, keeping the spot price in check.</p>

Trump Backs Bitcoin: Crypto Could Surge to $73K Up Next

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