As of January 6, 2025, Bitcoin (BTC) is trading around $98,963, reflecting a 1.4% increase over the previous close. This positions BTC approximately 8% below its all-time high of $108,319.87 reached in December 2024.
Analysts suggest that a decisive move above $97,000 could pave the way for new highs beyond $110,000. However, some experts caution that Bitcoin's trajectory in the first quarter of 2025 could vary significantly, potentially rising to over $125,000 or declining toward $77,000, depending on macroeconomic factors and policy decisions.
Technical analysis indicates that Bitcoin has found robust support around the $90,000 level, suggesting strong buyer interest at this price point. This support aligns with the middle threshold of its multi-year ascending channel, reinforcing its significance.
Market sentiment remains optimistic, buoyed by supportive policies from the current U.S. administration and increased institutional adoption. Notably, companies like MicroStrategy are planning substantial Bitcoin acquisitions, aiming to raise up to $2 billion to purchase more BTC.
In summary, while Bitcoin exhibits bullish tendencies with potential for further gains, investors should remain vigilant of market volatility and external factors that could influence its price trajectory in the near term.
