On January 7, 2025, Bitcoin's price surpassed the $100,000 mark, marking a significant milestone for the cryptocurrency (@CryptoMichNL). This surge was recorded at 10:30 AM UTC, with the price reaching $100,025 (@CoinMarketCap). The breakthrough above $100,000 reflects strong investor confidence and market optimism at the start of the new year.
The $98,000 level is identified as a critical support zone, and maintaining this level is seen as essential for sustaining the bullish trend (@CryptoMichNL). If $98,000 holds, @CryptoMichNL predicts a potential new all-time high for Bitcoin. Trading volumes on major exchanges like Binance and Coinbase spiked, with a total volume of 22,500 BTC traded in the last 24 hours as of 11:00 AM UTC (@TradingView). This increased volume indicates significant market participation and liquidity.
Technical indicators such as the Relative Strength Index (RSI) were at 72 on January 7, 2025, suggesting that Bitcoin may be approaching overbought territory but still within a bullish trend (@TradingView). The Moving Average Convergence Divergence (MACD) showed a bullish crossover on January 6, 2025, further supporting the upward momentum (@TradingView). On-chain metrics, including the number of active addresses, increased by 15% over the past week, reaching 1.2 million on January 7, 2025, indicating heightened network activity (@Glassnode).
Bitcoin Surges Past $100,000: Analyst Predicts New All-Time High If $98,000 Support Holds
1/7/2025 9:00:45 AM
According to @CryptoMichNL, Bitcoin has started the year strong, surpassing $100,000 on January 7, 2025. The analyst anticipates a new all-time high if the $98,000 support level remains intact. Trading volumes and on-chain metrics suggest robust market participation, with specific indicators pointing towards continued upward momentum. (Source)