Bitcoin (BTC) Price Analysis for January 2025: Will BTC Surpass the $100,000 Level?

As the crypto market shifts toward a bullish sentiment in January 2025, Bitcoin is steadily approaching the $100,000 milestone.

As the crypto market experiences a bullish shift in January 2025, Bitcoin (BTC) is gradually approaching the $100,000 milestone. With a 1.42% surge in the past 24 hours, Bitcoin maintains strong dominance above the $96,000 level.

However, this slow but steady growth has not received substantial institutional support from the ETF market. As BlackRock registers its largest-ever outflow, will the Bitcoin price continue its upward momentum?

Bitcoin Price Analysis

In the 4-hour chart, the BTC price trend showcases a bullish breakout of the local resistance trend line. Following a post-retest reversal, the BTC price makes a bullish comeback above the $96,000 level, marking its third consecutive positive day.

The recovery run saw a price increase from $92,637 to $96,900, reflecting a 4.61% rise. However, the intraday pullback of 0.11% has dropped the current market value to $96,804.

This marks a minor retest of the broken 100 EMA line on the 4-hour chart. Moreover, the recovery rally has resulted in a bullish crossover between the 20 and 50 EMA lines, heightening the possibility of a golden crossover.

The 4-hour RSI has shifted sideways, just below the overbought boundary, indicating an overall bullish sentiment. As a result, the dynamic average lines and momentum indicator are signaling a buy for Bitcoin.

BlackRock Sees Outflow as Other Bitcoin ETFs Recover

Despite the market’s bullish trend, institutional support for Bitcoin seems to be slowing down. While five out of nine Bitcoin ETFs registered positive inflows on Thursday, BlackRock’s IBIT ETF experienced a massive outflow of $332.62 million.

This results in a daily net outflow of $242.30 million. Notably, the Thursday negative flow from BlackRock, the largest Bitcoin ETF, marked its biggest-ever outflow.

BTC Price Targets

With a post-retest reversal from the 100 EMA line, Bitcoin’s bull run is likely to target the immediate resistance at $99,514. A breakthrough could significantly increase the chances of Bitcoin reclaiming the $100,000 mark in January 2025.

However, a decline below the 100 EMA line would alter the current market dynamics. This could lead to a retest of the 50 EMA line at $95,304.

DisClamier: This content is informational and shouldn't be regarded as financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.