Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Bitcoin (BTC) Price Holds Above $100,000 as Bulls Eye Next Breakout

Bitcoin (BTC) Price Holds Above $100,000 as Bulls Eye Next Breakout

BeInCryptoBeInCrypto2025/01/31 10:00
By:Tiago Amaral

BTC remains resilient above $100K, but resistance at $106K challenges further gains. Whale accumulation and technical signals hint at the next trend.

Bitcoin (BTC) price has remained above $100,000 for the last three days, showing resilience despite recent volatility. A golden cross has formed on BTC’s EMA lines, indicating potential for a bullish breakout if key resistance levels are cleared.

However, BTC has struggled to move past $106,000, and failure to do so could lead to a retest of lower support levels. Whether BTC can push toward $110,000 or face a pullback depends on how it reacts to these critical price zones in the coming days.

BTC Ichimoku Cloud Shows Mixed Signals

The Ichimoku Cloud chart for Bitcoin presents a mixed outlook. The price is currently above the Tenkan-sen (blue line), indicating short-term bullish momentum. In contrast, the Kijun-sen (red line) is slightly lower, suggesting a potential trend continuation if price remains above it.

The Chikou Span (green lagging line) is above most of the past price action, reinforcing the current bullish bias. However, the Kumo (cloud) has a thin structure ahead, meaning there is less support or resistance strength in the near future.

Bitcoin (BTC) Price Holds Above $100,000 as Bulls Eye Next Breakout image 0BTC Ichimoku Cloud. Source: TradingView

The cloud itself is transitioning from red to green, which typically signals a potential trend shift toward bullish conditions. However, the flat nature of Senkou Span B (red cloud boundary) suggests some hesitation in momentum. If Bitcoin price remains above the cloud, the bullish bias strengthens, but any dip back into the cloud could indicate consolidation or indecision.

The thin future cloud means the trend lacks strong conviction, making the next few candles crucial for determining whether BTC can maintain its upward trajectory.

Bitcoin Whales Dropped to Year-Lows, But It Could Be Recovering

The number of whales holding at least 1,000 BTC dropped significantly between January 22 and January 29, falling from 2,061 to 2,034, the lowest level since February 2024. This steady decline suggested that large holders were reducing their exposure, potentially signaling reduced confidence or profit-taking in the market.

Bitcoin (BTC) Price Holds Above $100,000 as Bulls Eye Next Breakout image 1Number of addresses holding at least 1,000 BTC. Source: Glassnode

Tracking whale activity is crucial because these large holders often influence market trends. When whales accumulate, it can indicate growing confidence and potential price appreciation, while distribution phases may precede downturns or increased volatility. Their movements provide insights into broader market sentiment and potential trend shifts.

After consecutive drops, the number of whales has started to rise again, currently back at 2,039. While this remains low compared to previous months, it could signal a return of large holders to BTC. If this trend continues, it may indicate renewed accumulation, which could support BTC’s price in the coming days.

BTC Price Prediction: Can BTC Reach $110,000 In February?

BTC’s EMA lines recently formed a golden cross, signaling potential bullish momentum, but the price has struggled to break above $106,000. If Bitcoin makes another attempt and successfully clears this level, it could quickly test $107,000.

A breakout above that resistance could push Bitcoin price toward $108,000, and if buying pressure remains strong, it might even reach $110,000, marking a new all-time high.

Bitcoin (BTC) Price Holds Above $100,000 as Bulls Eye Next Breakout image 2BTC Price Analysis. Source: TradingView

On the bearish side, if BTC price fails to hold momentum and the trend reverses, it could drop to $101,296, a key support level. Losing that level could accelerate selling pressure, pushing BTC down to $99,486.

If that support also breaks, BTC might continue its decline toward $95,800, at which point buyers could step in to prevent further downside.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Altcoin Google Searches Surge to 3-Year High

Interest in altcoins spikes as Google searches hit their highest level since 2021, signaling a bullish sentiment in the crypto market.What This Means for the Crypto MarketLooking Ahead

Coinomedia2025/07/22 10:30
Altcoin Google Searches Surge to 3-Year High