featured-image

The post Bitcoin Price Today: Will BTC Price Take Another Pullback Before It Hits $110k? appeared first on Coinpedia Fintech News

The cryptocurrency market has added ~1% to its valuation in 24 hours with a trading volume of $96.19 billion. With this, the global crypto market cap is currently valued at $3.51 Trillion. With this, the price of Bitcoin is back around the $100,000 mark, highlighting increased positive influence.

With the market sentiments suggesting a bullish outlook, is this a good time to invest in Bitcoin? In this article, we have covered the short-term market sentiment and the possible price of the Bitcoin (BTC) token.

BTC Price Retests $100k Mark!

The Bitcoin price has successfully regained momentum by recording 7 consecutive days of inflow for the first time since November 2024. Notably, the BTC price has added 1.17% to its valuation in 24 hours and ~6% during the first week of January 2025.

Bitcoin Price Analysis 06th Jan 2025
TradingView: BTC/USDT

Moreover, with a trading volume of $29.147 billion, the BTC price is presently exchanging hands at $99,324.45. Moreover, with a market dominance of 55.9%, it has a market capitalization of $1.959 Trillion, making it the 06th most valued asset in the global market.

Bitcoin ETF Update

Over the past week, the BTC ETF recorded 2 negative days, 2 positive days, and one neutral day. Reportedly, during this period, Fidelity’s “FBTC” recorded the highest inflow of $275.4 million, followed by Ark’s “ARKB” with $201.5 million.

Bitcoin ETF Flow Chart 06th Jan 2025
Source: SoSoValue

On the negative side, Grayscale’s “GBTC” recorded the highest outflow of $167.2 million, followed by BlackRock’s “IBIT” with $137.5 million. With this, the week concluded with a net flow of +$256 million.

BTC Technical Sentiments

The Moving Average Convergence Divergence (MACD) shows a rising green histogram in the daily time frame. Moreover, its averages record a bullish convergence, suggesting an increase in the buying-over-selling pressure for the largest cryptocurrency.

Moreover, the EMA 50-day constantly acts as a support to the Bitcoin price chart. This highlights a bullish outlook for it this week.

How High Will Bitcoin Price Go?

If the BTC price reclaims the $100k mark, it will head toward its upper resistance level of $102,000. Maintaining the price at that level could set the stage for it to retest its $105k in the upcoming time.

Conversely, if the bears outrun the bulls, the Bitcoin price could drop toward its support level of $98,000. Furthermore, if the bears gain control, the price of BTC could retest its low of $95,000.

Wondering if the BTC price will hit $200,000 in 2025? Read CoinPedia’s Bitcoin Price Prediction to uncover the long-term mysteries!

.article_register_shortcode {
padding: 18px 24px;
border-radius: 8px;
display: flex;
align-items: center;
margin: 6px 0 22px;
border: 1px solid #0052CC4D;
background: linear-gradient(90deg, rgba(255, 255, 255, 0.1) 0%, rgba(0, 82, 204, 0.1) 100%);
}

.article_register_shortcode .media-body h5 {
color: #000000;
font-weight: 600;
font-size: 20px;
line-height: 22px;
}

.article_register_shortcode .media-body h5 span {
color: #0052CC;
}

.article_register_shortcode .media-body p {
font-weight: 400;
font-size: 14px;
line-height: 22px;
color: #171717B2;
margin-top: 4px;
}
.article_register_shortcode .media-body{
padding-right: 14px;
}

.article_register_shortcode .media-button a {
float: right;
}
.article_register_shortcode .primary-button img{
vertical-align: middle;
}

@media (min-width: 581px) and (max-width: 991px) {
.article_register_shortcode .media-body p {
margin-bottom: 0;
}
}

@media (max-width: 580px) {
.article_register_shortcode {
display: block;
padding: 20px;
}

.article_register_shortcode img {
max-width: 50px;
}

.article_register_shortcode .media-body h5 {
font-size: 16px;
}

.article_register_shortcode .media-body {
margin-left: 0px;
}

.article_register_shortcode .media-body p {
font-size: 13px;
line-height: 20px;
margin-top: 6px;
margin-bottom: 14px;
}

.article_register_shortcode .media-button a {
float: unset;
}

.article_register_shortcode .secondary-button {
margin-bottom: 0;
}
}

Never Miss a Beat in the Crypto World!

Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.

.subscription-options li {
display: none;
}
.research-report-subscribe{
background-color: #0052CC;
padding: 12px 20px;
border-radius: 8px;
color: #fff;
font-weight: 500;
font-size: 14px;
width: 96%;
}
.research-report-subscribe img{
vertical-align: sub;
margin-right: 2px;
}

var templateIds = “6”;
var listOfSubscribed = [];

function subscribed_popupmodal(template_id) {
var subcribemodal = window.parent.document.getElementById(‘subscribe-modal-design’);
if (subcribemodal) {
var modalContent = `