Bitcoin price today: flat around $90k as post-election rally slows

Investing.com -- Bitcoin remained near the $90,000 mark on Monday, easing back from record levels reached last week.

The cryptocurrency's pullback came as enthusiasm surrounding Donald Trump’s presidency began to cool, and broader market sentiment was dampened by growing uncertainty over the US interest rate policy path.

Bitcoin surged by approximately 11% last week, during which it notched an all-time high of nearly $93,500. The rally was fueled by optimism sparked by pro-crypto Donald Trump’s win in the US presidential election.

Bitcoin fell 1.5% to $89,663.0 on Monday as of 08:30 ET (13:30 GMT). After clearing the $90,000 hurdle recently, markets are now watching for the cryptocurrency to attack the $100,000 next, which is seen as a key level. Bernstein highlights catalysts that could propel Bitcoin to $200K

Analysts at Bernstein have identified several catalysts that could drive Bitcoin's price to their cycle target of $200,000 by 2025.

“We are entering a stage, where we expect intrigue will turn to pain for the bitcoin bears,” said analysts led by Gautam Chuggani in a Monday note to clients.

Bernstein set their current target in June when Bitcoin traded at around $66,000, noting that Bitcoin’s surge toward $100,000 “seems around the corner and our $200K bitcoin target [by the end of] 2025 now looks not as delusional.”

Following Trump’s presidential election victory, his administration has made significant pro-crypto moves. Notable appointments include bitcoin advocates Robert F. Kennedy Jr. and Pete Hegseth for Secretary of Health and Secretary of Defense.

Yet, the most critical appointments for crypto—a new SEC Chair to replace Gary Gensler and a Treasury Secretary—are still forthcoming, the analysts pointed out.

Another major driver could be progress toward creating a US bitcoin reserve, a key campaign promise from Trump.

Bernstein highlighted that Senator Cynthia Lummis has already introduced the BITCOIN Act, proposing the US acquire up to 5% of Bitcoin’s total supply over five years, equivalent to nearly $100 billion at current prices.

While the plan holds strong political momentum, implementing such a reserve could require significant legislative efforts.

“Demand for bitcoin this cycle is led by institutions, corporates and retail,” analysts said, but added that the next phase will likely be “sovereign led,” as political support grows for crypto-friendly policies and resistance to CBDCs.

“The political winds of change are favoring candidates that prefer crypto deregulation and are against potential surveillance from a CBDC,” they noted. Crypto price today: Altcoins mirror Bitcoin's slowdown

Akin to Bitcoin, broader crypto markets also saw sluggish performance on Monday, mirroring the recent slowdown.

World no.2 crypto Ether slipped 0.7% to $3,081.15.

Meanwhile, Solana and XRP rose 3.7% and 1.1% respectively, while Cardano traded flat. MATIC/USD also added around 1% on the day.

Among meme coins, DOGE/USD edged 0.1% lower, and Shiba Inu fell 0.5%. DOGE saw strong gains last week after Trump announced the formation of the Department of Government Efficiency (DOGE), which will be led by Elon Musk and Vivek Ramaswamy.

Source: Investing.com