Bitcoin traders will see a ‘huge’ $130K+ BTC price when TradFi returns.
95,000 dollars in the year Bitcoin continued to rally again on January 2nd as it bounced back ahead of the first Wall Street open in 2025.
BTC/USD 1-Hour Chart. Source: Cointelegraph/TradingView
$130,000 BTC price “feels inevitable”
Data from Cointelegraph Markets Pro and TradingView showed BTC price up 1.5% on the day, taking BTC/USD to $95,880 on Bitstamp.
After revisiting monthly lows to start the week, Bitcoin (BTC) showed strength as a long-awaited test of deep support failed to materialize.
“The Christmas range has now swept both sides for liquidity,” trader Diane CryptoTrades wrote in one of her recent posts on X.
“The median at $95.8K is acting as resistance against the recent test.”
BTC/USDT on 1-hour chart. Source: Daan Crypto Trades/X
The accompanying chart has increased volume on range lows, something that various market metrics are beginning to turn in favor of the bulls.
“I advise you to keep an eye on the timing of this region's exit from either side. This should give a good idea of where it will move over the next 1-2 weeks,” added Diane CryptoTrades.
Next, another trader Jelle reiterated the similarities between BTC's price action this new year and last year's, comparing the comparison to a chart fractal that has finally resolved to the upside.
“There are parallels, with or without other lows,” X said in his own post.
“Comfortable in position, the next leg is in a high corner.”
BTC/USD Chart. Source: Jelle/Ex
Jelle then predicted that $130,000 to $150,000 in travel costs would result from the problem.
Other market participants had similar views, showing confidence in the strength of the Bitcoin bull market despite the holiday.
Entrepreneur and investor Jason Williams was among them, calling a similar new all-time high for BTC/USD this quarter.
“$BTC has re-entered the accumulation zone,” he told X followers on December 30.
“In my view, a few weeks of consolidation could set the stage for a major eclipse. $131.5K+ by Q1 2025 feels inevitable. see you there.
BTC/USD 2-day chart. Source: Jason Williams/Ex
Williams' chart took a longer-term view, matching the December range with that seen after old all-time highs were hit in March of last year. As Cointelegraph reports, the resulting range-bound BTC price action lasted more than seven months.
Bitcoin, crypto given new year liquidity push.
Similarly bullish on the return of “TradFi” traders, meanwhile, Cole Kennelly, founder of the crypto variable index service Volmex, predicts a broader bullish return for risk assets.
Related: Price Analysis 1/1: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, AVAX, LINK, TON
These suffered on the back of the hawkish tone set by the US Federal Reserve in the second half of December, especially after the recent interest rate cut.
“My gut tells me that the market is going to be completely risk-averse and a lot of money will be pouring into crypto, now that the logistics/balancing/etc of the year is over,” Kennelly wrote.
“It should be big in the next couple of days.”
This article does not contain investment advice or recommendations. Every investment and business activity involves risk, and readers should do their own research when making a decision.
