Bitcoin News: Potential Surge to $180,000 in Current Cycle

The digital asset market has demonstrated resilience at the start of Donald Trump’s new administration, with Bitcoin maintaining its value despite recent uncertainties. According to Glassnode, a market intelligence firm, Bitcoin is not yet overheating and has potential for further growth. This analysis, shared on the X platform, suggests that Bitcoin could continue its upward trajectory in the coming weeks, potentially reaching a top price of $180,000 in this cycle.

Bitcoin Price Top Could Be At $180,000 In This Cycle, Blockchain Firm Explains How

The digital asset market has shown resilience at the start of Donald Trump’s new administration, with Bitcoin maintaining its value despite recent uncertainties. According to Glassnode, a market intelligence firm, Bitcoin is not yet overheating and has potential for further growth. This analysis, shared on the X platform, suggests that Bitcoin could continue its upward trajectory in the coming weeks.

Bitcoin Dominance Rebounds To 57% – Price Rally To Follow?

Bitcoin's dominance in the cryptocurrency market has rebounded to 57%, following a slump to around 54% in December 2024. This resurgence comes after a period of significant price correction, where Bitcoin experienced a 14.5% drop. However, January saw a remarkable price rebound, leading to an increased market share for Bitcoin. This shift indicates a growing investor preference for Bitcoin amidst ongoing market uncertainty. Blockchain analytics company Glassnode highlights these developments as signs of a bullish future for Bitcoin, despite the lack of significant overall price change in the past week and the inauguration of pro-crypto US President Donald Trump.

Impact of Bitcoin’s Long-Term Holders Dominating the Market

Bitcoin has experienced a slight pullback, dropping by 0.66% in the last 24 hours. Despite this, long-term holders remain bullish for the year ahead. Bitcoin has been on an uptrend for nearly two weeks, reaching a new high of $109k four days ago. Currently, BTC is trading at $104,337, with the uptrend still intact. The consistency in BTC’s momentum is attributed to the behavior of long-term holders, who are leading the market. According to CryptoQuant, Bitcoin is currently facing a battle between diamond hands and speculative FOMO.

Wall Street CEOs Support Trump’s Pro-Crypto Plans

Wall Street is showing increasing support for cryptocurrencies, influenced by President Donald Trump’s aggressive push to boost the industry. This shift is particularly notable following the Jan. 23rd executive order for the National Digital Asset Stockpile. A report by CNBC on Jan. 25 indicates that top financial executives are aligning with Trump’s pro-crypto policies, marking a significant change for an industry that previously kept Bitcoin at a distance. Trump’s executive order focuses on 'protecting and promoting' the use and development of cryptocurrencies. At the World Economic Forum in Davos, Switzerland, Morgan Stanley CEO Ted Pick mentioned collaborating with Treasury and other regulators to ensure SAFE crypto offerings.

Bitcoin’s next move: Why corrective dip before new highs is likely

Bitcoin Cycle Indicators (IBCI) have crossed a critical point on the chart, suggesting a fall could be on the horizon. BTC has developed strong support levels that could influence a price jump, should a price correction occur. Bitcoin [BTC], in the past 24 hours, has seen a slight drop, falling by just 1.08%. However, it still trades above the $100,000 region. Despite the bullish market sentiment, corrective phases are inevitable and form part of the broader market cycle. AMBCrypto’s analysis found that a corrective phase could be approaching and has identified key regions that could support a bounce-back in price. The Index of Bitcoin Cycle Indicators (IBCI) on CryptoQuant showed that the asset has entered a distribution zone, a level last reached eight months ago, in May 2024.