Bitcoin markets are closely tracking upcoming political events, with Bitfinex analysts highlighting President Donald Trump’s 100-day address as a potential inflection point for crypto. 

Investors are watching for any indication of alignment between U.S. policy and Bitcoin’s (BTC) future role in the economy.

Bitfinex analysts wrote in a note shared with crypto.news that the market will be particularly attuned to mentions of a strategic crypto reserve, deregulatory measures aimed at unlocking capital into U.S.-based digital asset platforms, or rhetoric that frames Bitcoin as part of America’s financial infrastructure. 

Even without concrete policy shifts, a supportive tone could reinforce Bitcoin’s legitimacy among institutions and retail investors alike.

“The upcoming 100-day address from President Trump is gaining outsized attention within the crypto space,” Bitfinex analysts wrote. “Even without hard policy action, a tone that reinforces institutional legitimacy or economic nationalism through crypto could further embed Bitcoin into the macro-political narrative.”

Tightened on-chain supply

This anticipation comes amid a tightening on-chain supply of Bitcoin. Exchange deposits are at multi-week lows, indicating reduced selling pressure and an increase in self-custody behavior. 

Bitfinex cautioned that while this metric alone isn’t sufficient for investment decisions, its combination with recent macro volatility and the aftermath of a $7.2 billion options expiry may suggest a setup similar to past bullish breakouts.

The divergence between steady prices and falling exchange balances, analysts noted, has historically been a precursor to upside moves, especially when accompanied by consistent demand from ETFs and institutions.