Bitcoin News: Volatile Price Movements and Market Recovery

Bitcoin's price has experienced significant volatility recently, surging towards $109,000 before dropping to $105,472. With a 101% increase in trading volume over the past 24 hours, reaching $114.6 billion, the market shows signs of recovery after a downward trend since January 7.

Bitcoin Price Prediction for January 20

Bitcoin's price recently surged toward $109,000 but quickly fell to a low of $105,472. The trading volume for Bitcoin has increased by 101% over the past 24 hours, reaching $114.6 billion. Looking at a broader time frame, Bitcoin dropped below $100,000 on January 7 and has generally been on a downward trend since then. It hit a low of about $89,397 on January 13 but has begun to recover from this decline. Over the last 24 hours, its total market capitalization has risen by 2.9% to $2.13 trillion. Several analysts have observed that when Bitcoin’s price rises, the likelihood of establishing a Bitcoin reserve also increases. It appears that a price increase in Bitcoin makes the setup of a reserve more probable.

Over $200B Wiped From Crypto Markets After Trump Ignores Crypto in Ceremony Speech

Donald Trump’s inauguration ceremony took place without any mention of cryptocurrency, leading to a significant market crash. Bitcoin (BTC) experienced a sharp decline, dropping from over $107,000 to under $102,000 within minutes. Although it briefly recovered to $105,000 during the speech, the absence of any crypto-related comments caused BTC to plummet further to $100,500. Altcoins also suffered heavy losses, with the overall market losing over $200 billion in value.

Bitcoin hits 109K – Can BTC rise further? THIS data suggests…

Bitcoin [BTC] has recently surged to a new all-time high, briefly breaking above $109,000 on the 20th of January. Despite a slight pullback, the cryptocurrency remains up by 3.5% in the last 24 hours, reflecting a double-digit gain over the past week. Analysts are closely monitoring key on-chain metrics, which indicate renewed buying interest and lower supply on Binance. Open Interest and active addresses also suggest stronger market participation and potential for further gains.

US Treasury Debt Ceiling and Bitcoin Price Action

The US Treasury debt ceiling has reached $36 trillion, with a significant increase of over $8 trillion during the Biden administration. Treasury Secretary Janet Yellen announced a 'debt issuance suspension period' from January 21 to March 14, 2025, which could lead to decreased global liquidity and potentially impact Bitcoin prices. The crypto market has seen a surge following Trump's inauguration, which was anticipated. This suspension period is seen as a warning sign for Bitcoin's price action.

Bitcoin Price Prediction: Analyst Forecasts New Highs Above $110,000

A crypto analyst, who previously predicted a Bitcoin price crash to $99,000, now forecasts a surge to new highs above $110,000. This prediction is based on Bitcoin's recent bullish performance. From a technical perspective, TradingView crypto analyst R.Linda identifies the range between $102,500 and $100,000 as a critical support zone. If Bitcoin maintains above this zone, it could potentially rally to new all-time highs of $120,000 in the mid-term.