Bitcoin Continues Rally, Surpasses $95,000 Ahead of First Wall Street Open of 2025
As the new year unfolds, Bitcoin (BTC) has continued its rebound, reaching a high of $95,880 on Bitstamp. The cryptocurrency’s price has experienced a 1.5% increase in value over the past 24 hours, marking a significant milestone in its ongoing bull run.
$130,000 BTC Price ‘Feels Inevitable’
With the market showing signs of regaining strength, many analysts are now predicting that the $130,000 mark will be breached in the coming weeks. According to data from Cointelegraph Markets Pro and TradingView, the current price action is reminiscent of a similar fractal seen last year, which ultimately resolved to the upside.
Trader Daan Crypto Trades on the Similarities Between BTC Price Action
Daan Crypto Trades, a prominent trader, has noted that the current price action bears similarities to the previous year’s chart. In his latest post on X, he highlighted the increased volume at the range lows and emphasized the importance of tracking the breakout when it occurs.
"The Christmas Range has swept both sides for liquidity now," Daan Crypto Trades wrote. "Mid-range at $95.8K has been acting as resistance on the most recent test."
Trader Jelle Sees a Similar Chart Pattern
Fellow trader Jelle also weighed in on the matter, drawing comparisons to last year’s chart pattern. He noted that the similarities are striking, with or without another sweep of the lows.
"The next leg higher is right around the corner," Jelle said in his own X post. "Comfy in spot."
Jelle Predicts a Trip to $130,000-$150,000
In response to the breakout, Jelle predicted that a trip to between $130,000 and $150,000 would result from the current price action.
Entrepreneur Jason Williams Sees a New All-Time High for BTC/USD in Q1 2025
Jason Williams, an entrepreneur and investor, also expressed his confidence in the strength of the Bitcoin bull market. In his latest post on X, he called for a new all-time high for BTC/USD this quarter.
"$BTC has re-entered the accumulation zone," Williams wrote. "In my view, a few weeks of consolidation could set the stage for a massive breakout. $131.5K+ by Q1 2025 feels inevitable."
Volatility Index Service Founder Sees a Broader Bullish Comeback
Cole Kennelly, founder of crypto volatility index service Volmex, also forecasts a broader bullish comeback for risk assets. He attributes this to the return of "TradFi" traders and notes that the market is poised for a significant shift.
"My gut tells me the market goes full risk on and a lot of money piles into crypto, now that end-of-year logistics / rebalancing / etc is over," Kennelly wrote. "Should be a big next two days."
The Importance of Market Analysis
It’s essential to conduct thorough research when making investment decisions. Every investment and trading move involves risk, and readers should consult with experts before making a decision.
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Please note that this article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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