Analysts say that price discovery is just beginning, when Bitcoin is retrieving $102,000

Bitcoin has “just started its price recovery phase,” crypto analyst ‘Daan Crypto Trades' told his 390,000 followers on X on January 7.

A price breakthrough occurs when an asset enters a new range and makes a series of new all-time highs. According to CoinGecko, at the time of writing, BTC is only 6% off its December 17 high of $108,135.

It gained more than 10% in one week and broke above the $100,000 level again on January 6 during the late selloff.

BTC hit an intraday high of $102,500 in early trading in Asia on Tuesday, before falling back slightly.

The most stressful year of the cycle

“We are now in the first full week of the post-half-year period, which is the most cyclical year in history,” the analyst added.

$BTC has just started its price recovery phase.

We are now in the first full week of the post-semi-annual period, which is historically the most bullish year of the cycle.

Happy times. pic.twitter.com/1s10e5JS54

— Old Crypto Trading (@OldCrypto) January 6, 2025

CryptoQuant founder Ki Young Joo was bullish when commenting on this bull market on January 7th.

“This Bitcoin bull cycle may be the longest ever. New sources of liquidity are constantly fueling the market, and more are waiting to be discovered.

However, some analysts at the firm disagreed, predicting the end of the bull market in the first half of this year.

ITC founder Benjamin Cowen sees the need for a short-term trend reversal that could see bitcoin price $120,000 on Jan. 20, the day Donald Trump's inauguration.

If #BTC can re-tag this short-term trend line, it will match $120k at launch (January 20th) pic.twitter.com/vjKQzXd57m

— Benjamin Cowen (@intocryptoverse) January 6, 2025

Meanwhile, fellow analyst ‘Rect Capital' noted that Bitcoin's daily candle above $101,165 is different from its daily range.

In addition, 2025 will be the peak of the bull market, 2026 will be the year of the bear market, and “2027 will be the last year to anticipate a completely new futures bull market,” he said.

Even Bitcoin educator and investor Tony Weiss said that after the sell-off in November, the market has returned to the current level.

“Now that the year is over, I'm now fully back with 100k worth of bitcoins as of this afternoon!”

Elsewhere on Crypto Markets

Crypto market capitalization has increased slightly by $3.74 trillion at the time of writing, largely due to Bitcoin's 2.7% daily return to six-figure territory once again.

Ethereum did not reflect its momentum with a brief rise above $3,700, but fell back again on Tuesday morning.

Altcoins were mostly flat, with small gains for Tron (TRX), Avalanche (AVAX), and HyperLiquid (HYPE).