Bitcoin's Price Stagnation: CEO Chen Sees Trump's Administration as Potential Catalyst

Bitcoin's price action has been sluggish, but Bitget CEO Gracy Chen has shared her insights on potential catalysts that could reverse this trend. In a conversation with Bloomberg, Chen highlighted the new U.S. administration under President Donald Trump as a significant factor. She mentioned that discussions are ongoing regarding the inclusion of Bitcoin in the country's strategic reserve, but emphasized that expectations should remain measured.

Chen cautioned that Bitcoin's inclusion in the strategic reserve is not expected to become concrete in the first half of 2025, or even throughout the year. She also noted that previous catalysts, such as the 2024 Bitcoin halving, were not meant to be catalysts as they were already priced in. Instead, unexpected events are the catalysts that can lift Bitcoin's price.

Macroeconomic factors, rather than excessive Bitcoin purchases from institutions like Strategy, will play the biggest role in Bitcoin's future, according to Chen. She pointed to potential U.S. interest rate cuts and broader fiscal policies as key factors the industry is watching. Chen believes that entrepreneurs like Elon Musk and even President Trump can drive more change in the crypto markets than traditional politicians.