Bitcoin's price is currently hovering near $105,000, buoyed by a mix of bullish sentiment and external economic pressures. Several analysts suggest Bitcoin could reach new heights, with some even predicting it could hit $1 million in the coming years if adoption, regulation, and macroeconomic conditions align favorably. However, more conservative models suggest price levels between $120,000 and $135,000 are more realistic in the near term.

The cryptocurrency market is seeing a battle between bulls and bears around the $105,000 mark. Buyers are expected to gain the upper hand if they can push and sustain the price above $106,800, potentially leading to a rally toward the $109,588 to $111,980 resistance zone. Over the past week, Bitcoin has experienced a slight downtrend, fluctuating between $104,000 and $107,700.

Adding another layer of complexity, former President Donald Trump has recently called for a "full point" interest rate cut by the Federal Reserve. Trump's demand comes amidst concerns about the economy and a desire to stimulate growth. He has publicly criticized Federal Reserve Chairman Jerome Powell, urging him to lower rates and accusing him of being "too late" in taking action. Trump argues that inflation has cooled, making high borrowing costs unnecessary. He also points to rate cuts in Europe as an example to follow.

However, the Federal Reserve is expected to maintain its current stance. The Fed’s benchmark rate is expected to remain steady in the 4.25% to 4.5% range. Despite Trump's pressure, the Fed is likely to wait and assess the impact of economic policies, including tariffs, before making any significant moves. Some economists believe the Fed might consider a rate cut later in the year, potentially in September or December, depending on economic data and inflation trends.

The potential impact of a rate cut on Bitcoin is a subject of debate. Lower interest rates generally weaken the dollar, which could make Bitcoin more attractive as an alternative asset. Some analysts believe that institutional adoption and a decrease in Bitcoin's liquid supply could create conditions for demand shocks and increased volatility. Others, however, remain cautious, pointing to the possibility of Bitcoin falling to the psychologically important $100,000 level if bearish trends persist.

Beyond Bitcoin, other cryptocurrencies are also gaining traction. Altcoins like JetBolt (JBOLT) are attracting attention. Amidst the volatility and uncertainty, the crypto market remains dynamic.