Bitcoin Turns 16: Can It Reach $100,000?
Date: 2025-01-03 Author: Gabriel Deangelo Categories: CRYPTO PAYMENTS
Bitcoin volume on exchanges has fallen by 11,000 BTC over the past two days, indicating that selling pressure is easing. Since the beginning of the year, the cryptocurrency has accumulated $1 billion, indicating that buying continues despite temporary price stagnation. This trend shows investor confidence in the potential for further growth.
Institutional interest in Bitcoin reached a new level in December. Inflows into spot Bitcoin ETFs amounted to $4.63 billion, significantly exceeding the average for 2024 ($2.77 billion). Despite weak market activity in the second half of the month, support from major players remains strong, highlighting their confidence in the cryptocurrency’s long-term potential.
At the time of publication, Bitcoin is trading at $96,793, remaining above the key support at $95,668. To break the psychologically important $100,000 mark, the price must hold above this critical zone. Success on this front could open the way to $105,000, which would be a major step towards restoring the bullish trend.
However, if the price drops below $95,668, it could trigger a drop to $93,625, increasing concerns among holders. A break of this level would send Bitcoin to the $89,800 region, which would invalidate the positive outlook. Holding key marks is crucial for maintaining confidence in the market.
The jubilee sentiment, supported by institutional inflows and the ongoing supply reduction on exchanges, creates fertile ground for further growth. However, to consolidate at new heights, Bitcoin needs a strong momentum that can inspire both retail and institutional investors.
