Bitcoin is on the verge of a thrilling milestone, recently consolidating near $99K as it gears up for what could be a spectacular leap above $100K. The buzz in the crypto community is electric, with $900 million in ETF inflows pouring in, reflecting an optimistic outlook for a price rally within the next 24 hours.
The current buzz also hints at a bull run in 2025, as Bitcoin approaches its $100K liquidity zone with impressive rebound potential. Analysts are suggesting that lofty heights of $250K to $300K could be within reach this year. A notable shift following the change in the U.S. presidential office spurred a massive rise in Bitcoin’s price, shooting past the $108,000 mark before a brief correction. Despite some hesitation due to uncertainty surrounding the new presidential administration, excitement is bubbling beneath the surface as the market awaits the outcome of the upcoming FOMC meeting.
A pivotal question looms: Will the BTC price maintain its momentum and sustain above $100K, or will it encounter obstacles similar to previous spikes?
The inflows into spot ETFs surged significantly, driven by Bitcoin’s recent positive momentum. Data from Coinglass indicates that over $900 million flowed into spot BTC ETFs during the last trading day, marking a substantial increase. Adding fuel to the fire is a looming weakness of the U.S. dollar, likely paving the way for a further rally in Bitcoin’s price. So, what’s ahead? With CPI data on the horizon and the inauguration of Trump, can we expect another record high, or will there be another downturn?
Bitcoin has now entered a crucial liquidity zone, surpassing $99,000. After overcoming resistance levels of $99,373 and $99,534, the focus is on the significant liquidity area at approximately $99,694.98, where over $28.78 million in longs have been leveraged. Following slight retracements, Bitcoin continues to show a consolidated ascending trend. This suggests that while the price may hover around $99,500 for a moment, it also carries the potential for a strong rebound, marking the key $100K milestone shortly.
Examining the daily chart of Bitcoin prices reveals a phase of compression influenced by reduced trading volume. The Bollinger bands are tightening, yet the DMI levels indicate a bullish crossover with the ADX showing promising divergence. Bitcoin has now reached a critical resistance area between $98,602 and $99,561. A breakout from this zone could propel the price confidently above $100K. However, testing the liquidity zone just beyond $100K at $100,016 and $100,177, where more than $55 million in longs have been leveraged, is inevitable. Liquidations could occur in this range, but continued bullish sentiment should facilitate a swift recovery.
The crypto markets are firmly positioned as they kick off 2025, anticipated to be an exhilarating year for the bull run. The upper targets remain a topic of speculation; seasoned analysts believe Bitcoin’s trajectory could easily surpass $250K to $300K. With Bitcoin on track to achieve a new all-time high above $110K any day now, excitement in the cryptocurrency space is palpable.
Stay informed and connected in the dynamic world of crypto! Whether it’s breaking news, expert insights, or real-time updates that interest you, subscribe for the latest on Bitcoin, altcoins, DeFi, NFTs, and more.
