On January 1, 2025, the price of Bitcoin $BTC
was around $94,658 USD, up 2.87% in the last 24 hours.
Technical Analysis:
Support and Resistance: Bitcoin is currently above the key support level at $90,700, which was previously tested in late November. The nearest resistance level is estimated to be around $100,000.
Technical Indicators: According to data from TradingView, technical indicators are showing neutral signals, with oscillators and moving averages not giving strong indications of bullish or bearish.
Market Sentiment: Despite optimistic predictions from some analysts who expect Bitcoin to reach $140,000 in the next few months, others warn of a potential price correction to $60,000 before a bullish rebound in 2025.
Influencing Factors: Stablecoin Dominance: Analysts point out that Tether (USDT) dominance could be an important indicator of Bitcoin’s future price movements. If USDT dominance reaches 4.7–5%, Bitcoin’s price is expected to experience a sharp decline.
Regulation and Global News: Regulatory changes and global news continue to affect Bitcoin’s price volatility. Investors are advised to monitor the latest developments to make more informed investment decisions.
Recommendation: Facing high market volatility, investors are advised to implement good risk management and not make investment decisions based on speculation alone. Always do thorough research before making any investment decisions.
Disclaimer: This analysis is for informational purposes only and does not constitute investment advice. Always consult your financial advisor before making any investment decisions.