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Why is Bitcoin Up Today? Will BTC Price Hit Surge Above $100K ?
The post Why is Bitcoin Up Today? Will BTC Price Hit Surge Above $100K ? appeared on BitcoinEthereumNews.com. Bitcoin (BTC) has bounced back by about 6.9% since the start of 2025, reaching a key resistance level of around $99.3k on January 6 during the early New York session. This rally has reduced the fear of a potential drop below $90k, bringing some relief to investors. Bitcoin’s fear and greed index has jumped to 76%, signaling extreme greed in the market. However, mentions of Bitcoin reaching $110k have slowed compared to two weeks ago. This suggests the market is waiting for clearer signs before making a big move. ???? Bitcoin has scratched its way back to a high of $99.8K to kick off the new week. However, based on the huge spike in mentions of $110K+ BTC from 2 weeks ago, it appears traders are still awaiting much higher prices before getting too excited. Crypto prices nearly always move… pic.twitter.com/1VjfJxTVb9 — Santiment (@santimentfeed) January 6, 2025 Bitcoin Price Expectations Despite the recent rebound, Bitcoin’s daily chart shows a potential midterm reversal pattern forming. A head and shoulders (H&S) pattern, along with a bearish divergence on the Relative Strength Index (RSI), raises some concerns. However, Bitcoin has consistently closed above the 50-day Moving Average (MA), signaling that bulls are steadily gaining control. Even with the market’s cautious sentiment, there’s still potential for a surprise rally that could push Bitcoin past $100k. To begin the next major upward phase, Bitcoin needs to hold above the $99.3k resistance level. A consistent close above this mark would indicate strong bullish momentum. Also Read : Ethereum Displays a Stable Price Action—Is it a Good Time to Buy or Sell ETH? , Fundamental Outlook As Donald Trump prepares for his second-term inauguration, the cryptocurrency market is seeing growing bullish momentum. In the last 24 hours, the total BTC Futures Open Interest (OI) rose…
The post Why is Bitcoin Up Today? Will BTC Price Hit Surge Above $100K ? appeared on BitcoinEthereumNews.com.
Bitcoin (BTC) has bounced back by about 6.9% since the start of 2025, reaching a key resistance level of around $99.3k on January 6 during the early New York session. This rally has reduced the fear of a potential drop below $90k, bringing some relief to investors. Bitcoin’s fear and greed index has jumped to 76%, signaling extreme greed in the market. However, mentions of Bitcoin reaching $110k have slowed compared to two weeks ago. This suggests the market is waiting for clearer signs before making a big move. ???? Bitcoin has scratched its way back to a high of $99.8K to kick off the new week. However, based on the huge spike in mentions of $110K+ BTC from 2 weeks ago, it appears traders are still awaiting much higher prices before getting too excited. Crypto prices nearly always move… pic.twitter.com/1VjfJxTVb9 — Santiment (@santimentfeed) January 6, 2025 Bitcoin Price Expectations Despite the recent rebound, Bitcoin’s daily chart shows a potential midterm reversal pattern forming. A head and shoulders (H&S) pattern, along with a bearish divergence on the Relative Strength Index (RSI), raises some concerns. However, Bitcoin has consistently closed above the 50-day Moving Average (MA), signaling that bulls are steadily gaining control. Even with the market’s cautious sentiment, there’s still potential for a surprise rally that could push Bitcoin past $100k. To begin the next major upward phase, Bitcoin needs to hold above the $99.3k resistance level. A consistent close above this mark would indicate strong bullish momentum. Also Read : Ethereum Displays a Stable Price Action—Is it a Good Time to Buy or Sell ETH? , Fundamental Outlook As Donald Trump prepares for his second-term inauguration, the cryptocurrency market is seeing growing bullish momentum. In the last 24 hours, the total BTC Futures Open Interest (OI) rose…
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