Bitcoin (BTC) continues its impressive price recovery as bullish momentum pushes it closer to the significant $100,000 milestone.
With steady growth and technical indicators aligning in its favor, the question on every investor’s mind is: Will Bitcoin break through and sustain levels above $100,000 in January 2025? Let’s dive into the current market analysis and price forecasts.
Current Market Performance
Bitcoin is currently trading above $96,000, marking a 1.42% increase in the past 24 hours. While the crypto market shows bullish sentiment, the ETF market’s support remains mixed.
BlackRock, the largest Bitcoin ETF provider, has reported a record outflow, slightly dampening enthusiasm.
Key Metrics
- Price Range: Bitcoin has recovered from $92,637 to $96,900, reflecting a 4.61% rise over the past few days.
- Current Price: $96,804 after a minor intraday pullback of 0.11%.
- Immediate Resistance: $99,514.
Technical Analysis
Bullish Indicators
- Golden Crossover: The 4-hour chart shows a bullish crossover between the 20 and 50 EMA lines. This is a strong signal of sustained upward momentum.
- 100 EMA Line Support: Bitcoin has successfully retested and bounced back above the 100 EMA line, further strengthening its bullish outlook.
- RSI Trends: The 4-hour RSI remains just below the overbought zone, signaling continued positive sentiment without excessive market overheating.
Resistance Levels
- Immediate resistance is set at $99,514. A breakthrough at this level could pave the way for Bitcoin to cross the $100,000 mark.
- Key support lies at the 50 EMA line ($95,304). A drop below this level may signal a short-term bearish reversal.
Institutional Activity: Mixed Signals
While retail enthusiasm remains high, institutional support for Bitcoin has been inconsistent:
- BlackRock Outflow: BlackRock’s IBIT ETF recorded a massive outflow of $332.62 million on Thursday, its largest ever. This contributed to a daily net outflow of $242.30 million.
- Other ETFs Recovering: Despite BlackRock’s outflows, five of nine Bitcoin ETFs saw positive inflows on the same day, indicating uneven institutional sentiment.
BTC Price Predictions
Bullish Scenario
If Bitcoin maintains its current momentum and breaks through $99,514:
- The psychological level of $100,000 is likely to be reclaimed.
- Beyond $100,000, Bitcoin could target $105,000–$110,000, driven by increased buying pressure and a strong macro environment.
Bearish Risks
If Bitcoin fails to sustain above the 100 EMA line:
- A pullback could test support at the 50 EMA line ($95,304).
- Further declines might target $92,500, reversing some of the recent gains.
Bitcoin’s bullish trajectory is well-supported by technical indicators like the golden crossover and its resilience above the 100 EMA line.
However, mixed institutional sentiment and ETF outflows pose risks to sustained momentum. For now, the immediate focus remains on breaking through $99,514, with the $100,000 milestone within striking distance.
Investors should monitor key support levels and broader market sentiment, as Bitcoin’s journey toward $100,000 remains a pivotal moment for the crypto market in 2025.
