Bitcoin (BTC) Sees Marginal Uptick After Spending Most of the Weekend Below $98,000

The world's largest cryptocurrency has climbed above $99,000 and is currently trading around $99,100 as bulls set their sights on reclaiming $100,000

Bitcoin (BTC) price analysis for January 5, 2024.

Bitcoin (BTC) price opened the new year on a positive note, rising almost 1% to $99,200 on Monday (January 1). The world’s largest cryptocurrency had a relatively muted start to the week on Monday. However, bullish sentiment intensified on Tuesday as BTC surged to an intraday high of $96,159. The price dropped to $93,383 by the end of the session, registering an increase of 0.82%. Buyers retained control on Wednesday as BTC rose by just over 1% to settle at $94,373. Bullish sentiment intensified on Thursday as BTC rose almost 2.60% to go above $95,000 and settle at $96,823. With bullish sentiment persisting, BTC crossed the 20 and 50-day SMAs on Friday after registering an increase of just over 1%. The price remained relatively muted over the weekend as BTC registered only a marginal increase. However, buyers prevented sellers from taking control, with BTC ending the weekend at $98,312. The current session sees BTC up by 1.14% and trading around $99,500 as buyers eye the $100,000 mark.

What’s In Store For Bitcoin (BTC) In 2025?

The crypto market is buzzing after Bitcoin’s (BTC) stellar performance in 2024, with experts optimistic about the year ahead. Market watchers are hopeful that 2025 will see regulatory clarity, technological advancements, and greater institutional adoption. BTC doubled its market capitalization in 2024, with major altcoins also registering stellar growth.

“The crypto market had an excellent run in 2024, with its market cap doubling within the year. Continuing the momentum, we have started the new year on a positive note, with all major tokens up as much as 18% in a day.”

Experts expect global regulatory changes to play a crucial role in Bitcoin’s growth. Countries like Canada, China, Middle East, and the EU have taken steps to ease restrictions and create a friendly environment to foster crypto's growth. A pro-crypto administration in the US is also set to play a crucial role in the global growth of crypto through increased institutional activity and spot Bitcoin ETFs.

Markets also expect significant technological advancements in 2025, boosting the adoption and relevance of blockchain technology in the real world. Newer sectors like AI will also see considerable growth in 2025, driving innovation. Experts have also offered predictions for BTC in 2025. While some have predicted the world’s largest cryptocurrency could reach $150,000 by the end of the year, others have predicted it could hit $200,000.