Bitcoin News (January 7, 2025) – Bitcoin Eyes $109K Resistance as Market Surpasses $3.7 Trillion
Bitcoin News (January 7, 2025) – On Monday night, Bitcoin (BTC) surged back above $100,000, marking its first rise to that level in two weeks. This price jump followed the official certification of President-elect Donald Trump’s victory for the 2024 U.S. presidential election. Congress finalized the certification process for all 50 states and the District of Columbia, clearing the way for Trump’s inauguration on January 20, 2025. By 12:09 AM ET on Tuesday, Bitcoin was trading near $101,775, reflecting a 10% increase over the past week. Alongside Bitcoin’s rise, the total cryptocurrency market capitalization surpassed $3.7 trillion, reaching its highest level since December 19, 2024.
Bitcoin’s Path to $109K: Key Insights from Market Analysts
According to Alex Kuptsikevich, Chief Market Analyst at FxPro, Bitcoin is showing strong short-term growth potential, transitioning into a phase of consolidation. He explained that the market is “gently moving upwards,” with an extreme greed sentiment index of 76, suggesting active buying activity and significant potential for further gains. Kuptsikevich also indicated that Bitcoin’s recent growth aligns with a typical correction phase, where the cryptocurrency is poised to regain 61.8% of the gains from its early November 2024 rally.
He further stated that if Bitcoin can decisively break past the $109,000 mark, it will likely trigger the next leg of its rally. Bitcoin’s movement above the $100,000 threshold has set the stage for a potential surge, with analysts watching closely for confirmation of its continued upward trajectory.
Bitcoin’s Strong Year in 2024 and Market Drivers
Binance, in its recent report, highlighted Bitcoin’s stellar performance as one of the top-performing global assets, second only to Nvidia in 2024. The report attributed Bitcoin’s gains to key market factors such as spot ETF approvals, the upcoming Bitcoin Halving, shifts in monetary policy, and growing expectations of favorable regulatory changes for cryptocurrencies. As 2025 approaches, Bitcoin’s momentum appears poised to continue, potentially propelling it even higher in global asset rankings.
U.S. Crypto ETF Growth and China’s Regulatory Measures
As of January 7, US spot Bitcoin ETFs have seen net inflows of $987.06 million, reflecting growing institutional interest in Bitcoin. On the other hand, US spot Ether ETFs brought in $128.7 million. In contrast, China has tightened its stance on crypto transactions, extending its forex rules to include crypto assets, with the State Administration of Foreign Exchange (SAFE) now categorizing crypto dealings as high-risk.
Conclusion: Bitcoin’s Continued Growth in 2025
With Bitcoin surpassing $100,000 and poised for potential gains above $109,000, the cryptocurrency market remains on a solid growth trajectory. Key drivers, including favorable regulations and market optimism, continue to support Bitcoin’s position as a leading global asset.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
Leave a comment