Bitcoin (BTC) has as soon as once more surpassed the $100,000 mark reaching an intraday excessive of $102,514, its first breakthrough above this psychological stage since mid-December 2024.
$103K Resistance Looms as Bitcoin Climbs to $102,514 Amid Quantity Spike
This newest bitcoin surge displays sturdy bullish momentum, with consumers stepping in decisively to drive costs larger. The 1-hour BTC/USD chart signifies a gradual uptrend with clear indicators of accumulation across the $97,000–$98,000 vary, as evidenced by the consolidation zone seen earlier within the week.
Following this consolidation, BTC broke out with a robust upswing accompanied by a major spike in quantity at exactly 9:54 a.m. Japanese Time (ET), pushing the value previous $100,000 and peaking at $102,514 by roughly 11:25 a.m. Proper now, the $99,000–$100,000 vary represents a robust demand zone, supported by latest worth motion and the quantity profile.
BTC/USD by way of Bitstamp on Jan. 6, 2025, 4-hour perspective.
If BTC retraces to this zone, it may supply a positive shopping for alternative for day merchants, significantly if accompanied by a assured and bullish candlestick sample or a continuation in larger buying and selling volumes. The $103,000 by $103,500 stage represents the quick resistance the place promoting strain is extra seen.
Quick-term merchants may take partial income round this stage. For longer-term holders, monitoring worth conduct at $103,500—one other potential resistance stage—may assist decide exits. The transfer above $100,000 on Monday follows Microstrategy’s newest BTC buy. The publicly listed enterprise intelligence (BI) agency now holds 447,470 BTC.
The quantity spike throughout the breakout above $100,000 and $101,000 is sort of a bullish indicator. Nonetheless, the four-hour and one-hour charts additionally mirror minor overextension, suggesting a potential short-term pullback or consolidation earlier than additional upward motion. This befell after the intraday peak. Momentum-driven merchants ought to watch intently for confirmations above $103,000 to make sure continued bullish energy.
Crypto derivatives markets noticed 75,093 merchants liquidated , the overall liquidations is available in at $220.70 million.
Bitcoin’s break above $100K this week displays renewed market optimism and robust shopping for curiosity. Strategic entries close to assist ranges and vigilant monitoring of resistance zones can be essential for navigating bitcoin’s dynamic worth motion. Over the 24 hours, $48.13 million in bitcoin brief positions have been liquidated, resulting from BTC’s swift worth rise beginning at 10 a.m. As of 1:30 p.m. ET, round 74,997 merchants have been liquidated over the last 24 hours throughout your entire crypto derivatives markets.
