Top Bitcoin (BTC) price predictions have briefly crossed $100k

TL; DR

Bitcoin rallied below $90k and briefly surpassed $100k, driven by bullish momentum and CPI data. Analysts are predicting further gains, some are expecting a new all-time high and a “happy season” for the market.
Positive trading nets and an RSI above 70 indicate selling pressure and overbought conditions, indicating the possibility of a short-term correction.

New ATH revenue?

Bitcoin (BTC) has reconfirmed its volatile nature over the past several days. It was trading around $94,000-95,000 over the weekend, but the bears came in at the start of the work week, suppressing the price below $90,000 for the first time since November last year.

As it turns out, thoughThis was only momentary, and the price began to rise sharply in the following days. On January 15, BTC He was elevated. More than $98,000 following the latest CPI data released by the US Department of Labor. The bulls continued to win, and the property surpassed $100,000 on January 16th. In the following hours, BTC recovered slightly and is currently priced around $98,000 (according to CoinGecko).

Crypto X is full of analysts who have noticed the amazing price movement and are predicting further gains. In the near future. Captain Fibic It is intended NEW ALL-TIME HIGH AT END OF JANUARY, JAVON MARKS EXPECTS “BIG CRASH”.

The latter It is mentioned A certain “flag crash” on the price chart, expecting this to be the last time this happened, BTC rose more than 70% in one month.

Mikubul Crypto has entered. The analyst proposed that A break above the $99K resistance level could initiate a “fun and excitement” psychological market phase.

He added, “This is the stage where everything flows, especially the alts.”

A possible fix?

Contrary to bullish predictions, some indicators indicate that the leading cryptocurrency may lose some steam in the short term. basis To CryptoQuant, BTC exchange Net flow It has been mostly positive for the past seven days. This It shows that it is possible to move from self-sustaining methods to centralized trading platforms It should be considered Bearish as selling pressure increases immediately.

Another reason is worth it Touch on BTC's Relative Strength Index (RSI), which earlier today (January 16) It has passed 70. Such a high level suggests that the asset may be overbought and headed for a pullback.

Conversely, any reading below 30 will do. It is translated As a cruel sign.