After a brief flirtation with six figures in early December, Bitcoin is currently in a phase of stagnation (pause, immobility), fluctuating below the coveted threshold of $100,000. This lull in the market is mainly attributed to a combination of factors: a decrease in liquidity following the end-of-year festivities and a noticeable scarcity (lack, lack) of transaction volume.
However, despite this temporary halt, industry experts remain optimistic. They believe that this psychological barrier of $100,000 is just a transitory stage before a new push. The key question is: what elements will ultimately catalyze Bitcoin's takeoff beyond this symbolic level?
One of the main impediments to a new rise in the price of Bitcoin is the drastic drop in trading volumes. With barely 66.7 million dollars being traded daily as of January 3, the market is far from the peak of 743 million recorded on December 5, when BTC first surpassed the 100,000 dollar mark.
Axel Adler, analyst at cryptoQuant, accurately summarizes the situation: "For a vigorous push, we need sufficient trading volume. We are hopeful that the market will recover from the holiday period." However, the market structure remains bullish, indicating a potential imminent rise.
Key Figures Revealing the Situation:
A 91% decrease in volumes since early December.
An estimated range for January between 95,000 and 110,000 dollars, according to Bitfinex data.
A relevant historical fact: in the last 12 years, January has only shown a downward trend on five occasions.
If investors finally react, a new peak could be in sight by the end of this month.