Bitcoin briefly spiked to $97,500 on Wednesday as improving macro sentiment boosted risk assets, driving a sharp increase in liquidations and renewed ETF demand.
| Cryptocurrency | Ticker | Price |
| Bitcoin | (CRYPTO: BTC) | $97,561.89 |
| Ethereum | (CRYPTO: ETH) | $3,387.58 |
| Solana | (CRYPTO: SOL) | $147.07 |
| XRP | (CRYPTO: XRP) | $2.15 |
| Dogecoin | (CRYPTO: DOGE) | $0.1488 |
| Shiba Inu | (CRYPTO: SHIB) | $0.058829 |
Notable Statistics:
- Coinglass data shows 149,828 traders were liquidated in the past 24 hours for $848.51 million.
- In the past 24 hours, top gainers include Dash, Internet Computer and Monero.
Notable Developments:
- Crypto Custodian Company BitGo Targets Nearly $2 Billion Valuation In NYSE IPO
- Senate Crypto Vote In 72 Hours: What Are The Chances Of The Bill Passing?
- Polymarket Trader Loses $2.4 Million In 8 Days: What Went Wrong?
- Bitcoin, Ethereum, XRP Rallying But Here’s Why Crypto Is A ‘Ghost Town’
- MicroStrategy Trades Like A Bitcoin Fund — And January 15 Could Bring A Market Jolt
- Strategy Director Buys MSTR For First Time In 3.5 Years—Here’s Why That Matters
- Chainlink Up 4%, ETF Launches As Senate Bill Drops: Can LINK Repeat The XRP Rally?
Trader Notes: Altcoin Sherpa said Bitcoin has finally broken out of its two-month consolidation range, though market sentiment remains cautious due to lingering fear from past false breakouts.
Despite the hesitation, he remains bullish, noting that a move toward $100,000 is still the base case unless a major macro shock emerges.
Crypto analyst Kevin highlighted that if Bitcoin reclaims the 2-day timeframe 200 EMA/SMA and shows sustained follow-through, it would be historically unprecedented for what is considered a “bear market year.”
Such a move would mark a major structural shift into a bullish regime, with the critical resistance zone between $96,000 and $101,600.
Crypto trader Jelle added that Bitcoin’s downtrend has officially ended, pointing to a clean break and retest of the descending trendline, a clear market structure shift, and the former local high now acting as support.
With these confirmations in place, the next major resistance lies between $100,000 and $105,000, with momentum firmly back in bulls’ favor.
Image: Shutterstock
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