Below is an analysis of the Bitcoin price on January 9, 2025:

Current Price and Recent Trends

According to BOSS Wallet data, the Bitcoin price on January 6, 2025, was $100,837.66, with a 24-hour increase of 3.093%, and a trading volume of $32.995 billion. Based on candlestick chart analysis, it was in a downward trend at that time. Overall in 2024, Bitcoin's price fluctuated significantly, repeatedly setting new historical highs throughout the year, but during the market adjustment at the end of the year, the price fell back to approximately $92,000.

Factors Influencing Analysis

• Policy Factors: The incoming U.S. President Trump expressed support for cryptocurrency policies during his campaign, such as firing current SEC Chairman Gary Gensler and envisioning the establishment of a strategic Bitcoin reserve. His upcoming presidency has boosted sentiment in the cryptocurrency market, with many analysts predicting he will create a more favorable regulatory environment for digital assets, thus driving up Bitcoin prices.

• Institutional Investor Factors: The demand for Bitcoin from institutional investors continues to grow, serving as a significant force behind the rise in Bitcoin prices. In 2024, institutions bought a large amount of Bitcoin through the U.S. spot ETF, with companies like MicroStrategy actively purchasing Bitcoin as well. It is expected that in 2025, institutional fund inflows will continue to maintain or exceed the pace of Bitcoin inflows seen in 2024. Additionally, the launch of Bitcoin ETFs has lowered the investment threshold, making it easier for retail and institutional investors to enter the market, thereby driving demand growth.

• Market Scarcity Factors: The Bitcoin halving event in 2024 reduced the block reward from 6.25 BTC to 3.125 BTC, significantly decreasing the new supply of Bitcoin, further exacerbating market scarcity and thus driving prices upward.

• Technical Analysis Factors: From a technical indicator perspective, Bitcoin's price trend is about to close at historical highs on daily, weekly, and monthly charts, which is very bullish across all these timeframes. Additionally, the cup and handle pattern and Fibonacci extension provide additional bullish price targets in the $100,000 to $105,000 range.

Future Price Prediction

• Short-term Prediction: Some analysts believe that Bitcoin may face certain short-term challenges at the beginning of 2025, with a risk of further dipping down to $80,000.