Bitcoin (BTC) Market Awaits Donald Trump's Executive Orders as Analysts Eye 'God Candle'

Cryptocurrency markets are trading lower on Wednesday as investors await Donald Trump's executive orders on crypto and his announcement regarding a strategic Bitcoin reserve.

Cryptocurrency markets are trading lower on Wednesday as investors await Donald Trump's executive orders on crypto and his announcement regarding a strategic Bitcoin reserve.

Here's a snapshot of some notable statistics, developments, and traders' notes:

Notable Statistics:

Bitcoin is currently trading down 0.66% at $103,000.

Ethereum is trading lower, down 0.88% at $3,300.

The total cryptocurrency market cap stands at $3.01 trillion, down from yesterday’s levels.

Notable Developments:

BlackRock clients have reportedly purchased Bitcoin via an ETF, according to data from on-chain analytics firm CryptoQuant.

However, CryptoQuant’s analysis suggests that the recent ETF inflows may not be directly driving the rising crypto prices.

Top Gainers:

The top gainers among the biggest 100 cryptoassets are Celer Network, up 22.36%; Orbeon Protocol, up 17.06%; and Stacks, up 14.08%.

Trader Notes:

Crypto trader Flow Horse emphasized that BlackRock itself hasn’t purchased Bitcoin; its clients did through the ETF.

He warned that the bullish sentiment could be misleading and noted that spikes in trading volume, including multiples of an ETF’s average daily volume, often indicate short-term market tops.

Altcoin Sherpa expressed optimism, suggesting a “Bitcoin god candle” is imminent, advising traders to focus on the upward potential.

Technical analyst Kevin described the market as stagnant, with liquidity concentrated between $96,000 and $111,000.

He highlighted the nearly three months of sideways trading after a brief rally, following eight months of stagnation in late 2024.

Big blocks of liquidity all the way from 96K-111K. That's the current range we're. Beyond that nothing much to update. Market still pretty boring now for close to 3 months. Crazy because we traded sideways for 8 months to end 2024 then we went up for one month and now we have… pic.twitter.com/jYTMbOCnfd

CrediBULL Crypto clarified that his high-timeframe BTC chart illustrates market structure rather than precise timing or price levels.

He identified two key support zones: the current level and $88,000-$95,000.

If these fail, BTC could drop to the mid-$80,000 or even $70,000 range, but the larger bullish structure remains intact as long as the $58,000 higher low holds

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