Bitcoin Price Outlook: Trump Speech Unlikely to Boost BTC, But Long-Term Bullish Trends Intact

Bitcoin Price Outlook: Trump Speech Unlikely to Boost BTC, But Long-Term Bullish Trends Intact

Bitcoin traders awaiting a price boost from President Donald Trump’s speech at the White House Digital Assets Summit may need to manage their expectations. According to Standard Chartered analyst Geoffrey Kendrick, the speech is unlikely to drive immediate upward momentum for BTC. Kendrick noted that while Bitcoin remains in the $80k-$95k range, it is likely to experience choppy trading with limited actionable opportunities.

Despite the lack of near-term catalysts, Kendrick maintains a bullish long-term outlook for Bitcoin. He highlights the potential establishment of a U.S. strategic reserve as a key driver for future growth. Such a move could embolden other sovereign nations to follow suit, as seen with Abu Dhabi’s recent acquisition of 4,700 BTC through BlackRock’s IBIT fund. Kendrick believes this trend will accelerate, with more sovereigns and domestic U.S. entities, such as state governments and pension funds, entering the market.

Looking ahead, Kendrick anticipates a potential breakout from the current price range, particularly if broader economic pressures ease. He advises traders to capitalize on any weekend dip caused by the lack of news from Trump’s speech, as a breakout above the $95k range could be imminent, especially if tariff-related noise subsides.

In summary, while Bitcoin may face near-term volatility, the long-term outlook remains positive, driven by potential strategic reserves and increasing institutional and sovereign interest.