BTC Price Analysis: Trump Boosts Trade Deals as Bitcoin Consolidates Near $120,000 Resistance

Bitunix analyst highlights a dynamic phase in the cryptocurrency market as Bitcoin (BTC) undergoes a period of consolidation amid President Trump’s active pursuit of new trade agreements. This macroeconomic backdrop is influencing digital asset performance, with altcoins demonstrating notable strength and upward momentum. Market participants are closely monitoring key technical levels, with resistance positioned at $120,000 and critical support established near $116,300. These price points serve as pivotal markers for potential breakout or retracement scenarios. Investors and traders are advised to consider these thresholds within the context of broader geopolitical developments and evolving market sentiment, which continue to shape crypto asset valuations and liquidity flows.