CoinInsight360.com logo CoinInsight360.com logo
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
CoinGape 2025-01-22 06:28:17

Will Bitcoin Price Hit Fresh All-Time High Today? Key Factors To Watch

Bitcoin price is up 4% in the last 24 hours moving back above $106,000 as the broader market euphoria revives following Donald Trump’s inauguration and a large number of ETF filings. As BTC attempts a breakout from the $101-$106K range high, analysts are hopeful of a new all-time high coming soon. Furthermore, on-chain data shows strong whale accumulation and network activity. Bitcoin Price Eyes New All-Time High This week has been volatile for Bitcoin as the BTC price swung from the weekly lows of $96,703 all the way to its all-time high of $109,114. With today’s gains, Bitcoin price is making yet another attempt to hit fresh highs, as market leaders like MicroStrategy continue to accumulate . Bitcoin is consolidating within the $101K-$106K range as it prepares for a potential breakout, according to insights from analyst Rekt Capital. Source: Rekt Capital As per the above image, the confluent support zone, identified as a critical level for BTC, has provided a floor for the cryptocurrency to stabilize and gain momentum. As of now, Bitcoin price is challenging the upper limit of the range at $106K, signaling a possible move toward new all-time highs. Rekt Capital highlighted the importance of a daily close above the $106K resistance, followed by a post-breakout retest, as key indicators of a historic rally. Another Bitcoin model also predicts that the BTC bull run is just half complete at the moment. Key On-Chain Indicators To Support the BTC Rally The recent Bitcoin rally comes along with strong whale accumulation as well as a surge in network activity. Prominent crypto analyst Ali Martinez reports that Bitcoin whales have acquired more than 22,000 BTC, valued at over $2.24 billion, recently. Source: Ali Martinez Furthermore, the analyst also highlighted a notable uptick in Bitcoin network activity. Key metrics, including daily active addresses and whale transactions, have shown simultaneous increases, reflecting heightened engagement across the network. As per Martinez, this sets a bullish outlook for Bitcoin price rally to continue. Source: Ali Martinez What Happens If BTC Faces Rejection At $106K? Taking a contra bet, analyst Justin Bennet has expressed skepticism about Bitcoin’s recent surge, suggesting it may lose momentum following the Trump inauguration . In a post on the X platform, Bennet wrote : “Bitcoin pumped into the Trump inauguration, so there’s a good chance the rally fades from here.” The analyst stated that he’s holding a short position for BTC at the current price levels. Highlighting Bitcoin’s current market structure, Bennett described the cryptocurrency as “range-bound until proven otherwise” and pointed to the January 13th lower wick as a potential target for a retest. This means that the Bitcoin price could retrace back under $92,000 as per the below chart. Source: Justin Bennet The post Will Bitcoin Price Hit Fresh All-Time High Today? Key Factors To Watch appeared first on CoinGape .

Leggi la dichiarazione di non responsabilità : Tutti i contenuti forniti nel nostro sito Web, i siti con collegamento ipertestuale, le applicazioni associate, i forum, i blog, gli account dei social media e altre piattaforme ("Sito") sono solo per le vostre informazioni generali, procurati da fonti di terze parti. Non rilasciamo alcuna garanzia di alcun tipo in relazione al nostro contenuto, incluso ma non limitato a accuratezza e aggiornamento. Nessuna parte del contenuto che forniamo costituisce consulenza finanziaria, consulenza legale o qualsiasi altra forma di consulenza intesa per la vostra specifica dipendenza per qualsiasi scopo. Qualsiasi uso o affidamento sui nostri contenuti è esclusivamente a proprio rischio e discrezione. Devi condurre la tua ricerca, rivedere, analizzare e verificare i nostri contenuti prima di fare affidamento su di essi. Il trading è un'attività altamente rischiosa che può portare a perdite importanti, pertanto si prega di consultare il proprio consulente finanziario prima di prendere qualsiasi decisione. Nessun contenuto sul nostro sito è pensato per essere una sollecitazione o un'offerta