The parent company of Truth Social, Trump Media & Technology Group (DJT), on Tuesday announced a $2.5 billion capital raise to build a Bitcoin treasury.
The announcement coincides with Bitcoin 2025, the largest Bitcoin-focused event of the year, currently underway in Las Vegas. Despite the bullish signal from Trump Media, shares of the company closed down approximately 10%.
Currently, Bitcoin is trading near $110,000, testing a resistance zone between $110,000 and $112,000. Price action near this level shows indecision. Immediate support is possibly observed around $103,000 to $105,000. While the long-term trend maybe remains bullish, the current price action could indicate a possible consolidation or pullback in the near term.
The announcement coincides with Bitcoin 2025, the largest Bitcoin-focused event of the year, currently underway in Las Vegas. Despite the bullish signal from Trump Media, shares of the company closed down approximately 10%.
Currently, Bitcoin is trading near $110,000, testing a resistance zone between $110,000 and $112,000. Price action near this level shows indecision. Immediate support is possibly observed around $103,000 to $105,000. While the long-term trend maybe remains bullish, the current price action could indicate a possible consolidation or pullback in the near term.
Economic Calendar:
blackbull.com/en/economic-calendar/?utm_source=tradingview
Free TradingView Premium:
blackbull.com/en/platforms/tradingview/?utm_source=tradingview
blackbull.com/en/economic-calendar/?utm_source=tradingview
Free TradingView Premium:
blackbull.com/en/platforms/tradingview/?utm_source=tradingview
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Economic Calendar:
blackbull.com/en/economic-calendar/?utm_source=tradingview
Free TradingView Premium:
blackbull.com/en/platforms/tradingview/?utm_source=tradingview
blackbull.com/en/economic-calendar/?utm_source=tradingview
Free TradingView Premium:
blackbull.com/en/platforms/tradingview/?utm_source=tradingview
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.