Bitcoin (BTC) remains just less than $ 105,000, and no indications of its next movement show. While the collapse can cause upward momentum and revive excitement about this encryption bull running, it is also appropriate for Bulls to resist more decrease to certain price levels.
Bitcoin should keep more than $ 97,877 to maintain the upward trend
After a large price correction in December 2024, it seems that Bitcoin has recovered its upward shape in 2025, even to create the highest new level ever at $ 109,114, as Donald Trump took over the position of US President.
Currently, the main encryption assets are trading less than $ 105,000 after a series of important gains and losses during the past week. Amid the uncertainty in this market, the famous encryption analyst Ali Martinez highlighted the level of price support is vital to maintaining the current budget structure of Bitcoin.
in X post On January 25, Martinez states that investors have accumulated more than 101,000 BTC at $ 97,877, and this price zone turned into a major support level. Therefore, the bitcoin price should be higher than this level to ensure the continuation of the current upward trend.
It is worth noting that the accumulation of a huge volume of BTC at 97,877 dollars indicates the strong market confidence among investors. The transformation of the high market price to the potential price floor to Bitcoin indicates the forecasts of a long upward stage and higher profit levels.
Interestingly, some artistic indicators support these upward feelings. Based on the daily trading scheme in Bitcoin, its relative strength index is located at 60.83, indicating that the first cryptocurrency still has a large space for growth before entering the peak area and the price reflection experience.
However, if BTC loses its support level at $ 97,877 due to overwhelming sale pressure, this decrease in the price will indicate a wider decrease in the market and paves the way for a free decrease to about 92,800 dollars in the next important support zone.
BTC investors show a strong demand with high cex flows
In other news, the Blockchain InTothheblock Analysis platform Reports These Central Exchanges (CEX) recorded $ 800 million in Bitcoin’s external flows during the past week.
This development indicates a high demand by BTC investors who get BTC and transfer them to private portfolios in anticipation of future gains. More importantly, the BTC’s decrease in the stock exchanges reduces the capabilities of any major sale pressure that negatively affects prices.
At the time of the press, bitcoin exchanged his hands at $ 104,805, which reflects a slight decrease of 0.15 % last day. Meanwhile, the daily trading volume decreased by 53.81 % with a value of $ 25.5 billion. Despite these measures, the Bitcoin community is still largely optimistic, according to Poll Data from Coinmarketcap. The maximum market of $ 2.07 trillion, the virgin cryptocurrency retains 57.7 % of the total digital asset market.
Distinctive image from Financefes, the tradingView graph
