Why did Bitcoin rise today? Will BTC price rise above $100k?
Bitcoin (BTC) has bounced back By about 6.9% since the beginning of 2025, reaching a key resistance level of about $99.3 thousand on January 6 during the early New York session. This rise has reduced fears of a possible drop below $90,000, bringing some relief to investors.
Bitcoin’s fear and greed index jumped to 76%, indicating extreme greed in the market. However, the signal for Bitcoin reaching $110,000 has slowed from where it was two weeks ago. This indicates that the market is waiting for clearer signals before making a big move.
Bitcoin price forecast
Despite the recent rebound, Bitcoin’s daily chart shows a potential reversal pattern forming in the medium term. A Head and Shoulders (H&S) pattern.along with bearish divergence on Relative Strength Index (RSI)raises some concerns. However, Bitcoin has consistently closed above the 50-day moving average (MA), suggesting that the bulls are steadily gaining control.
Even with cautious market sentiment, there is still the possibility of a sudden rally that could push Bitcoin above $100,000. To start the next major bullish phase, Bitcoin needs to hold above the level 99.3 thousand dollars Resistance level. A sustained close above this mark would indicate strong upward momentum.
Basic expectations
like Donald Trump In preparation for his inauguration for a second term, the cryptocurrency market is seeing increasing upward momentum. In the past 24 hours, total open interest in BTC futures (OI) rose by more than 13%, reaching around $63.3 billion. This increase indicates increased confidence in Bitcoin’s future price movement.
Does the bull market have more to go?
Bitcoin supply on Central exchanges It fell to around 2.21 million BTC, indicating that the overall bull market is likely not over. As supply shrinks, demand may continue to outpace availability, which could cause the price of Bitcoin to rise in the coming months.
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With supply shrinking and interest in futures rising, Bitcoin’s journey through 2025 is shaping up to be one to watch closely.
Frequently asked questions
A Fear and Greed Index of 76% indicates extreme greed, and often indicates high investor optimism, which can cause Bitcoin prices to rise.
Bitcoin price could break $100K if it closes consistently above $99.3K, despite the current bearish divergence in the RSI and H&S pattern.
Bitcoin supply on central exchanges fell to 2.21 million, reflecting a long-term bullish outlook due to reduced selling pressure.
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