Key Takeaways
- Bitcoin, in past crypto cycles, has struggled in January. Will the market repeat itself this time as the price drops to $97,000?
- Crypto analysts believe $97,000 Bitcoin is a healthy retest for the market as altcoins suffer a market dump.
- $97,000 BTC is a key region of interest for investors. BTC is holding onto a string of hope as the price holds above the 50-day and 200-day EMAs.
2025 for Bitcoin price has been filled with mixed feelings following its struggle to rally past $100,000 to a new high of $108,000 as many analysts and crypto speculators are beginning to call the price of Bitcoin could be due for a major price retracement towards it low of $70,000 to $66,000 which is quite extremely for such retracement.
Despite the contradictions among crypto analysts regarding Bitcoin’s next move, many analysts still expect the price of Bitcoin to retest its high of $105,000 to $106,000 before selling off due to huge sell-side liquidity around those regions.
Where will Bitcoin be headed in the first quarter of 2025? Let’s do a deep analysis and explore some expert views regarding Bitcoin price predictions for the coming weeks.
Bitcoin Market Sentiment Following Its Price Retracement
Source – State Of The Crypto Market From Coin360
The current state of the market after Bitcoin crashed from its high of $102,000 to a region of $97,000 looks weak. Altcoin is suffering more downside retracement as Bitcoin trades in a key support region.
Crypto analysts believe Bitcoin trading to $97,000 is good for the market to ease up on its high leverage position, as the market has struggled to show real signs of an uptrend since the start of the year.
Will the first January of 2025 be different this time for Bitcoin and altcoins, or will history repeat itself? Bitcoin and altcoins have struggled to show real price momentum in January of previous bull cycles, and the market is looking like it could repeat itself.
Bitcoin Price Prediction For Today, Tomorrow, And Expert View
Source – Bitcoin Price Prediction From TradingView
The price of Bitcoin on the four-hourly chart sits at a key support region of $97,000, as Bitcoin bulls need to keep BTC’s price from going lower. Bitcoin at $97,000 also acts as a key demand area, as buy positions are pending in this region to push prices higher; if this liquidity fails to push prices, bears could take advantage of BTC’s price.
The 50-day and 200-day EMAs (Exponential Moving Averages) act as strong support for BTC’s price after a successful bullish cross-over as crypto analysts speculate it’s a healthy price retracement ahead of its intended rally toward a high of $105,000 and more.
Source – AndrewCrypto BTC Post From X
AndrewCryptoHQ on his X account stresses that Michael Saylor’s BTC purchase on the support zone could see BTC rally to a high of $100,000, with its price retesting a region of $98,000 before rallying to a region of $108,000 in the coming days, which has played out as he expected.
If Bitcoin’s price holds above $97,000, we could see more upside potential from Bitcoin and altcoins, which have demonstrated strong bullish price action in the last few days.
Key Support For Bitcoin – $97,000
Key Resistance For Bitcoin – $108,000
