๐ Bitcoin Hits $101K Amid MicroStrategy's First 2025 BTC Purchase! ๐
Bitcoin (BTC) has kicked off 2025 with a bang, breaking through the $100K milestone and setting a bullish tone for the new year. Hereโs what you need to know:
๐ BTC Price Action Highlights
BTC Price Surges: Bitcoin soared past $101,000, reaching its highest level since December 2024.
3% Daily Gain: BTC/USD spiked to $101,506 on Jan. 6 at the Wall Street open.
Crucial Close Needed: Analysts emphasize the importance of a daily close above $101K to confirm a breakout.
๐ฆ MicroStrategy Leads the Way
1,070 BTC Added: Business intelligence giant MicroStrategy announced its first Bitcoin purchase of 2025.
Corporate Treasury Grows: This move cements MicroStrategy's position as a leading institutional Bitcoin holder.
๐ Market Insights
Liquidity Cleared: Significant ask liquidity at the $100K mark was swept, according to market watchers.
Short Liquidations Spike: Data shows $36M in BTC short liquidations over 24 hours, highlighting the bullish momentum.
๐ Key Analyst Observations
$101K as Resistance:
Popular trader Rekt Capital pointed out that reclaiming $101K as support is critical for price discovery.
Historical data suggests rallies from $101K often extend to $103K or higher.
Technical Significance: Analysts see $101K aligning with previous uptrend support, marking it as a key level to watch.
๐ Macro Context
Political Spotlight: The upcoming inauguration of US President-elect Donald Trump adds to the macroeconomic factors traders are eyeing.
๐ฅ Will BTC sustain this momentum and reach new all-time highs? Letโs watch the markets as 2025 unfolds!
