The inauguration of the new U.S. president has ushered in a dramatic surge in Bitcoin’s (BTC) price, propelling it to an all-time high (ATH) above $108,000. Following a brief correction, BTC has resumed its upward trajectory, poised to breach the $100K milestone once more. However, lingering uncertainty surrounding the administration change and the forthcoming Federal Open Market Committee (FOMC) meeting has tempered market enthusiasm.
Data from Coinglass indicates that spot Bitcoin ETFs recorded inflows exceeding $900 million in the last trading day, underscoring robust institutional interest. Simultaneously, a weakening U.S. dollar is expected to further bolster Bitcoin’s rally. Yet, the question remains: will BTC sustain its momentum above $100K, or face another rejection near this critical psychological level?
Bitcoin has entered a key liquidity zone above $99,000, nullifying resistance levels at $99,373 and $99,534. The next significant hurdle lies at $99,694.98, where leveraged longs exceed $28.78 million. Recent price action suggests a potential retracement near $99,500 before a decisive breakout, positioning BTC to solidify its $100K benchmark.
Technically, Bitcoin’s daily chart reveals compressed Bollinger Bands due to declining trading volumes, while a bullish crossover on the Directional Movement Index (DMI) signals strengthening momentum. If BTC clears the resistance zone between $98,602 and $99,561, a breakout could propel it to test liquidity pockets at $100,016 and $100,177, where over $55 million in leveraged longs await.
As Bitcoin enters 2025—a year widely anticipated as the climax of the bull run—market veterans forecast higher ATH targets ranging from $250K to $300K. With bullish sentiment dominating and the crypto market rallying, Bitcoin is on track to surpass $110K in the near term.
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All eyes remain on key economic indicators, including Consumer Price Index (CPI) data and the ripple effects of the political transition. For now, Bitcoin’s upward march appears unstoppable, capturing the optimism of investors worldwide.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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