Bitcoin News: Bull Market Persists Despite Recent Volatility

A recent report from Glassnode, a leading crypto analytics platform, confirms that Bitcoin's bull market is still active despite recent price fluctuations. The report highlights key indicators that suggest the cryptocurrency remains in a bullish phase, even after experiencing a correction. This analysis provides a reassuring outlook for investors amidst the market's ups and downs.

Bitcoin Bull Market Is Alive And Kicking, Study Confirms

Despite recent price fluctuations, a renowned crypto analytics platform asserts that Bitcoin's bull market remains intact. The platform, Glassnode, highlighted in their latest insight report that Bitcoin is still within the bullish zone, even after experiencing a price correction. They explained that the indicators show the firstborn cryptocurrency’s bull market continues, despite the ups and downs observed in the previous weeks.

California, Massachusetts, and Wyoming Join the Race For a Bitcoin Reserve

As of January 2025, at least 15 US states are planning to add BTC as a part of their asset reserves. Wyoming lawmakers, led by Representative Jacob Wasserburger, have proposed House Bill 201, which would allow the state to invest up to 3% of its public funds in Bitcoin. If approved, this legislation could see Wyoming’s state-managed assets, including Bitcoin, in its portfolio. The assets accumulated to nearly $30.8 billion in 2024. The bill would allow BTC to be added to the general fund, permanent mineral trust fund, and permanent land fund portfolios. The largest of these funds, the Permanent Wyoming Mineral Trust Fund, holds nearly $11.5 billion. With this approval, the state could allocate over $300 million to Bitcoin investments.

Whale Activity Spikes as Bitcoin Reclaims $102,000—What Investors Need To Know

Bitcoin (BTC) has seen a steady price recovery following the recent release of the US Consumer Price Index (CPI) report, now trading above $103,000. This marks an 8% gain over the past week, driven by growing interest from large investors and a shift in market dynamics. According to CryptoQuant Analysts, underlying whale activity factors might be influencing Bitcoin’s current trajectory. Joao Wedson, a contributor to the CryptoQuant QuickTake Platform, highlighted a noteworthy trend in whale behavior on Binance, the world’s largest crypto exchange. Wedson examined the Exchange Whale Ratio, which measures the share of Bitcoin’s largest inflow transactions relative to the total exchange volume.

Bitcoin Bull Run Hinges on $97K Support Level

The cryptocurrency market is closely monitoring Bitcoin’s performance as $97,000 emerges as the critical support level to sustain its ongoing bull run. Analysts emphasize that holding above this price is crucial for maintaining bullish momentum and avoiding a significant reversal in market sentiment. According to the latest on-chain data from Glassnode, Bitcoin’s realized price distribution highlights $97,000 as the pivotal price point where a significant volume of coins has been transacted. This level represents a robust area of support, critical for sustaining Bitcoin’s upward trajectory. A breakdown below this threshold could signal bearish momentum, raising concerns among investors.

Bitcoin – Is $105K next after CPI fuels $500M stablecoin inflows on Binance?

Bitcoin's price has appreciated by 3.34% over the last 24 hours, with a significant upswing pushing it past the $100,000 mark. At the time of writing, Bitcoin was trading at $102,048, following a weekly hike of over 7%. The crypto community is abuzz with discussions about the factors behind this surge. One analyst suggests that the latest Consumer Price Index (CPI) report may have been a key driver. According to CryptoQuant analyst Fost, the CPI data has led to a $500 million inflow of stablecoins on Binance, which has positively impacted Bitcoin's price, helping it surpass the psychological barrier of $100,000.