INSUBCONTINENT EXCLUSIVE:
Positive inflation data released on January 15 fueled the rally, pushing Bitcoin close to the $100,000 milestone.Analysts attribute the
price jump to lower-than-expected Consumer Price Index figures
Michael van de Poppe, a respected cryptocurrency expert, predicted further gains in the coming days
net outflows for the third consecutive day
This contrasts with the overall market sentiment, suggesting some investors remain cautious.Technical indicators paint a bullish picture for
The 4-hour chart shows a V-shaped recovery with linear growth
A positive crossover of the 20 and 50 EMA lines signals a strong short-term uptrend
The RSI approaches overbought territory, reinforcing the buy signal.Bitcoin Nears $100,000 as Inflation Data Sparks Rally
(Photo Internet reproduction)Market sentiment remains mixed, with some experts making bold predictions
Samson Mow, CEO of JAN3, maintains his forecast of Bitcoin reaching $1 million by year-end
However, many market participants view this claim skeptically, preferring more conservative projections.Trading volume for Bitcoin hit
57,817,886,720.0 in the past 24 hours
The derivatives market saw a 1.54% increase in open interest, totaling $61.51 billion
A bullish long-to-short ratio of 1.0442 indicates more traders are betting on further price increases.Bitcoin Nears $100,000 as Inflation
Data Sparks RallyThe upcoming inauguration of Donald Trump on January 20 adds another layer of anticipation
Many expect pro-crypto policies from the new administration, potentially driving further gains
However, some analysts warn of potential volatility in the short term.Tom Lee of Fundstrat maintains an optimistic long-term outlook for
He projects a price of $250,000 by the end of 2025, despite acknowledging potential near-term fluctuations
This forecast aligns with the growing mainstream acceptance of cryptocurrencies.As Bitcoin approaches the psychologically important $100,000
level, market participants closely monitor potential breakout scenarios
Investors and analysts alike remain vigilant, balancing optimism with caution in this dynamic market.
