PANews reported on January 21 that Matrixport stated that the price of Bitcoin has been in a gradually narrowing wedge range since mid-November last year, affected by multiple factors, including higher-than-expected inflation data and the Federal Reserve’s hawkish stance suppressing market sentiment, as well as the market’s optimistic expectations that President Trump may establish a "strategic Bitcoin reserve" to provide support.

Trump's inauguration became the catalyst for Bitcoin's upward breakthrough, and the price of Bitcoin is currently retesting the breakthrough level, which coincides with the upper boundary of the wedge. If Bitcoin can hold this key support level, it still has significant upside potential in the short term, and the market's bullish expectations are further strengthened.