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Bitcoin and crypto prices are awaiting the next catalyst after surging into May (though Apple might have just quietly created it).
The bitcoin price has surged almost 30% since falling to April lows and is nearing $100,000 per bitcoin as the market braces for a $10 trillion Wall Street earthquake.
Now, as “major” U.S. dollar warnings are priming bitcoin for a “geopolitical fragmentation megaforce” shock, U.S. president Donald Trump’s crypto czar David Sacks has predicted a coming “Trump boom.”
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U.S. president Donald Trump’s crypto czar David Sacks has predicted a bitcoin and crypto “boom” as … More
“We’ve ended the war on crypto, and I think we’re trying to stop the regulatory capture that benefits large incumbents,” Sacks, who worked with Tesla billionaire Elon Musk in the early days of PayPal and advised him on his takeover of Twitter and its rebranding to X, said during an episode of the All In Podcast.
“I do think that this sets us up for a Trump boom in the future,” Sacks said, pointing to “other things that that have been done on the economy as well,” and predicted “a lot of these changes take time to to play out.”
Last week, the Federal Reserve quietly rolled back Biden-era rules that prevented Wall Street from fully embracing crypto, while the Trump administration is fast tracking stablecoin legislation that’s expected to rewire the global financial system.
The bitcoin and crypto market has lost steam since Trump’s inauguration, with the bitcoin price dropped from its January all-time high of almost $110,000 per bitcoin, plummeting along with the stock market as the Trump administration embarked on a global trade war.
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The bitcoin price has rocketed over the last year, recovering from a dip following U.S. president … More
However, the bitcoin price, which has somewhat supported the wider crypto market, has held up better than many had expected, helped by growing fears swirling around the future of the U.S. dollar and bitcoin’s reputation as “digital gold.”
“This renewed risk-on mood is setting the stage for bitcoin to make a run at $100,000,” Matt Mena, crypto research strategist at 21Shares, said in emailed comments.
“The $95,000 level had been a key resistance zone in recent weeks, and once bitcoin cleared it with strong volume, momentum accelerated quickly. With equities pushing higher and liquidity expectations rising, bitcoin is behaving like a high-beta macro asset–closely tied to investor appetite for risk and reflation trades.”
Other bitcoin and crypto investors have cheered the latest bitcoin price rebound, emboldening them to double-down on their bullish bitcoin price predictions.
“I definitely would not be surprised [to see bitcoin reach] $200,000, or $250,000 this year,” Joe Burnett, director of market research Unchained, said during an X broadcast.
“If the price gets going soon and breaks a new all-time high, I think things could get really crazy, [and] actually go parabolic… all the narratives are set, the macro conditions are great.”
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