Bitcoin shows promising signs of recovery that could potentially propel the world's premier cryptocurrency back toward six-digit valuations. However, market participants remain cautious about whether President Trump's economic policies will be implemented as aggressively as his rhetoric suggests.

Bitcoin has yet to experience a deep correction since reaching prices above $100,000. Traders have likely exhausted most if not all the upside excitement in this cycle. The reason it does not look like a typical cycle top with a swift retracement of 80% or more, is because Bitcoin has matured more in the past year than ever before; the investor base of Bitcoin has evolved even more.

Bitcoin is experiencing the most volatility since the presidential inauguration and it is no surprise that it is tied to US president Donald Trump. The president is said to be speaking with the original Bitcoin president Nayib Bukele, over the phone today. 

Bitcoin's recent price action has raised questions about market direction following today's sharpest decline since December 18th. The cryptocurrency fell 5.4%, interrupting a remarkable seven-day winning streak that had added $10,000 (11.55%) to its value.

Recent posts made on social media, the news stream, and elsewhere have given meaningful upticks to select cryptocurrencies so far this week. Unlike gains over the last month that have raised the prices of every coin in the top 100 by market cap, gains this week were more modest and related to specific developments in the space. 

Alt Coin Season Is Here

Bitcoin continues to break ground and break records, oscillating around Friday's historic close of $91,070. The original cryptocurrencies resilience above $85,000 over the past six days paints a picture of strength, particularly following the November 11th surge that saw prices rocket $8,345 higher (10.38%).

Bitcoin has officially entered the parabolic stage of its current four-year cycle with the election of Donald Trump. Trump made some astonishing campaign promises at the 2024 Bitcoin Conference that was held in May.

* Create a national Bitcoin reserve using seized BTC instead of auctioning it

* Oppose the development of a US Central Bank Digital Currency (CBDC)

Bitcoin experienced a notable decline today, dropping over 3% as it struggles to maintain the $70,000 level. As of 4:40 PM Eastern Time, the cryptocurrency was trading at $70,099. However, this psychological price point's significance may be overstated when considering Bitcoin's broader trajectory and market sentiment.