Bitcoin (BTC) Price Stalls Below $100,000 Despite Praise from Trump’s Crypto Czar

Bitcoin’s (BTC) price remains stuck in a tight range, struggling to gain momentum despite recent attempts to break above resistance. President Trump’s Crypto Czar, David Sacks, recently called Bitcoin an “excellent store of value,” yet the statement has had little visible impact on price action.

Sellers appear to be regaining control, as BTC’s DMI indicates increasing bearish pressure, while whale accumulation remains weak compared to recent highs. With BTC trading between $97,700 support and $99,500 resistance, its next major move will likely determine whether it revisits lower levels or makes another push toward $100,000.

BTC DMI Shows Sellers Are Gaining Control Again

BTC DMI chart shows that its ADX has dropped to 25.8, down from 35.8 just three days ago. This decline indicates that the strength of the prevailing trend is weakening, suggesting that BTC’s recent price movement is losing momentum. BTC has been trying to recover from a downtrend, but the falling ADX suggests that this recovery lacks strong trend confirmation.

A further drop below 25 could indicate that BTC is entering a period of consolidation, where price movement becomes less directional and more range-bound unless a new surge in momentum emerges.

BTC DMI. Source: TradingView.

ADX is a component of the Directional Movement Index (DMI) that quantifies trend strength. Generally, an ADX above 25 suggests a strong trend, while a reading below 20 indicates weak or indecisive market conditions. Alongside this, BTC’s +DI has dropped from 22.5 to 16.7 over the past two days, reflecting fading bullish momentum, while -DI has increased from 25.8 to 27.9, signaling growing bearish pressure.

With -DI now firmly above +DI, the market is tilting in favor of sellers, making the Bitcoin recovery attempt more difficult. If this trend persists and ADX remains above 25, BTC could continue facing downward pressure. However, if ADX declines further and both directional indicators start converging, BTC may enter a period of sideways movement rather than a strong bearish trend.

Bitcoin Whales Are Accumulating Again, But Still Far Below From Recent Highs

The number of BTC whales – wallets holding at least 1,000 BTC – has risen to 2,041, recovering from 2,034 on January 29, which marked its lowest level since January 2024. Despite this short-term increase, the overall number of whales is still struggling to recover from the sharp decline between January 20 and January 23, when it dropped from 2,067 to 2,039 in just three days.

The decline suggested a period of significant distribution, where large holders reduced their exposure to BTC. While the recent uptick indicates some stabilization, the overall whale count remains well below its recent high, signaling that large-scale accumulation has yet to fully resume.

Addresses With 1,000+ BTC. Source: Glassnode.

Tracking BTC whales is crucial because these entities have the power to influence price movements through large buy or sell transactions. An increasing number of whales typically suggests strong institutional or high-net-worth investor confidence, which can help support price stability and even fuel upward momentum.

Although the current whale count has seen a minor recovery, it remains significantly below the recent peak of 2,067, suggesting that BTC is not yet seeing widespread re-accumulation from major holders.

If whale numbers continue to rise, it could provide a stronger foundation for BTC’s recovery, but if they stagnate or decline again, it may indicate that larger investors are still hesitant about committing to the asset at current levels.

BTC Price Prediction: Will BTC Recover $100,000 Levels Soon?

Bitcoin price is currently trading within a tight range, facing resistance around $99,500 while holding support at $97,700. The setup remains bearish based on its EMA structure, where short-term moving averages are positioned below long-term ones. This signals ongoing downside pressure despite President Trump’s Crypto Czar David Sacks recently declaring that Bitcoin is an “excellent store of value.”

If BTC tests and loses the $97,700 support, it could drop to $95,783 as the next key level. A stronger downtrend could push BTC even lower, potentially reaching $91,266 – its lowest price since mid-January – if bearish momentum accelerates. This would further solidify the current market structure as a continuation of the recent decline.

BTC Price Analysis. Source: TradingView.

On the other hand, BTC price has attempted to break the $99,500 resistance in the last few days but failed to hold above it. A successful breakout above this level could shift momentum in favor of buyers, allowing BTC to test $101,300.

If this level is cleared with strong buying pressure, BTC could rally toward $106,300, an important threshold that could open the path to a new all-time high of around $110,000 in February.