Bitcoin hovered around $105,000 on January 24 amid confusion in the crypto markets, which failed to react positively to news of a potential national digital asset stockpile anticipated from the Trump administration. This proposal aims to assess the creation and management of such a stockpile while rolling back regulations that hinder banks from custodial crypto services. Trader Scott Melker noted the markets were 'utterly confused' as Bitcoin struggled to achieve upward momentum, remaining stagnant below its all-time highs. Despite optimism regarding a pro-Bitcoin administration, predictions indicate only a 21% chance that Trump will establish a Bitcoin reserve in his first 100 days. Analysis pointed to a 'well-defined consolidation' in Bitcoin's price action, marking $102,000 and $106,000 as critical levels for bullish sentiment. However, the market's lack of a strong reaction signals a potential underestimation of the regulatory shift's implications for the cryptocurrency landscape.

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