๐ฅ๐ฏ๐ฅBitcoin ($BTC ) roared past the $100,000 milestone on January 6, marking a historic moment as it touched $101,506 on Bitstamp. This leap coincided with MicroStrategyโs announcement of its first Bitcoin purchase of the year, adding 1,070 BTC to its corporate holdings. The surge catapulted BTC to its highest price since December 19, 2024, and ignited fresh optimism among traders and investors.
The breakout cleared significant liquidity at the $100,000 level, with a notable โ๐ฉ๐๐ฌ๐ฌ๐ข๐ฏ๐ ๐ฌ๐๐ฅ๐ฅ๐๐ซโ on Binance being swept away. Popular trader Skew highlighted the emergence of new bids supporting the rally, pointing to improved market sentiment. Data from CoinGlass revealed $36 million in short liquidations within 24 hours, underscoring the impact of the liquidity sweep. Meanwhile, technical analysts, including ๐๐๐ค๐ญ ๐๐๐ฉ๐ข๐ญ๐๐ฅ , stressed the importance of Bitcoin securing a daily close above $101,000 to confirm its potential for further upside. Historically, once BTC reclaims $101,000 as support, it has often extended gains to at least $103,000.
Looking ahead, the broader macroeconomic landscape could play a pivotal role in Bitcoinโs trajectory. Trading firm ๐๐๐ ๐๐๐ฉ๐ข๐ญ๐๐ฅ noted the absence of immediate catalysts tied to ๐.๐. ๐๐ซ๐๐ฌ๐ข๐๐๐ง๐ญ-๐๐ฅ๐๐๐ญ ๐๐จ๐ง๐๐ฅ๐ ๐๐ซ๐ฎ๐ฆ๐ฉโ๐ฌ upcoming inauguration on January 20. Instead, market participants are focusing on the upcoming U.S. jobs report on January 10, which could influence sentiment across financial markets. Importantly, funding rates for BTC remain significantly lower than during the December rally, suggesting a more sustainable price movement.
๐๐ข๐ฌ๐๐ฅ๐๐ข๐ฆ๐๐ซ : This article is for informational purposes only and does not constitute financial advice. Investors are encouraged to conduct thorough research before making investment decisions.
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