💥💯🔥Bitcoin ($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 MicroStrategy’s 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 “𝐩𝐚𝐬𝐬𝐢𝐯𝐞 𝐬𝐞𝐥𝐥𝐞𝐫” 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 𝐑𝐞𝐤𝐭 𝐂𝐚𝐩𝐢𝐭𝐚𝐥 , 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 Bitcoin’s trajectory. Trading firm 𝐐𝐂𝐏 𝐂𝐚𝐩𝐢𝐭𝐚𝐥 noted the absence of immediate catalysts tied to 𝐔.𝐒. 𝐏𝐫𝐞𝐬𝐢𝐝𝐞𝐧𝐭-𝐄𝐥𝐞𝐜𝐭 𝐃𝐨𝐧𝐚𝐥𝐝 𝐓𝐫𝐮𝐦𝐩’𝐬 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.
𝐃𝐢𝐬𝐜𝐥𝐚𝐢𝐦𝐞𝐫 : 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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