Bitcoin Bulls Break Downtrend as Trump Pledges to Make US "Bitcoin Superpower"

Bitcoin (BTC) attempted to strengthen its position above the key downtrend line at the start of trading on March 20 on Wall Street. The price of BTC/USD rose above $86,000, with Bitcoin showing resilience and gaining strength from positive macroeconomic signals from the US Federal Reserve. President Donald Trump made a pledge to make the United States a dominant force in Bitcoin and cryptocurrency, emphasizing his commitment to not selling confiscated Bitcoin and removing regulatory barriers. Analysts highlighted the significance of Bitcoin reclaiming key moving average trend lines, indicating a positive sentiment towards BTC among investors. Market analysts warned of potential risks despite the initial excitement following the Fed's decision, citing concerns about stagflation and a more hawkish shift in the Fed's projections for 2025.