The change in the U.S. presidential office triggered a huge upswing in the Bitcoin (BTC) price that spiked and formed a new ATH above $108,000. After a brief retracement and correction, the star token has revamped a calculated ascending trend, aiming to surpass the $100K milestone shortly. Meanwhile, the uncertainty over the aftermath of the new president assuming office has lowered the bullish activity within the markets. Moreover, the upcoming FOMC meeting has also added icing to the cake.
With the bullish sentiments piling up, will the BTC price sustain above $100K or face another rejection after rising above the levels?
The spot ETF accumulation spiked gigantically as the BTC price displayed some momentum. As per the data from Coinglass, the spot BTC ETF witnessed over $900 million in inflows during the last trading day, recording one of the biggest numbers. On the other hand, the USD weakness is anticipated in the coming days, which is believed to fuel the positive momentum for the BTC price rally. What’s next? With the CPI data & Trump’s inauguration, will the price form a new ATH as it did before or face another sell-off?
Bitcoin has entered one of the major liquidity zones after rising above $99,000. After nullifying the zones at $99,373 and $99,534, the token is trying hard to validate a rise above the crucial liquidity zone at $99,694.98, where more than $28.78 million in longs have been leveraged. The price retraced slightly after the previous encounters but maintained a consolidated ascending trend. Therefore, a similar price action is expected now that may slightly drag the levels close to $99,500 but trigger a strong rebound to mark the milestone at $100K shortly.
The daily chart of BTC prices suggests the price is experiencing some compression due to the drop in volume. As a result, the Bollinger bands have squeezed but the DMI levels have displayed a bullish crossover, with the ADX displaying a bullish divergence. Now that the BTC price has entered the crucial resistance zone between $98,602 and $99,561, a breakout from the zone could push the price above $100K. Meanwhile, the token is yet to test the liquidity zone just above $100K at $100,016 and $100,177, where more than $55 million longs have been leveraged collectively.
Therefore, the BTC price could face some liquidations here but as the sentiments are bullish, a quick rebound should be in place. The crypto markets and the Bitcoin price have entered 2025, reportedly assumed to mark the last and most exciting year of the bull run. As a result, the higher targets of the bull run are pretty tough to estimate, as the veterans and the popular analysts believe it to be somewhere above $250K to $300K. Hence, the Bitcoin price appears to be in track, aiming to form a new ATH above $110K anytime this month.
