Is $101K just the start for Bitcoin?

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BTC surges above $101K as MicroStrategy kicks off 2025 with fresh Bitcoin purchase

Key points:

• Bitcoin reclaimed six-figure territory, reaching $101,506 during Monday's Wall Street session.

• MicroStrategy added 1,070 BTC to its corporate treasury, further fueling market momentum.

Bitcoin reclaims $100K milestone - Bitcoin (BTC) started the first full trading week of 2025 on a high note, surging past $100,000 and touching $101,506 on January 6, 2025, according to data from TradingView. The rally represents BTC's highest level since December 19, 2024, as daily gains exceeded 3%.

The sharp move coincided with a buy announcement from MicroStrategy, the business intelligence firm known for its bullish Bitcoin treasury strategy. The company added another 1,070 BTC to its holdings, further solidifying its position as a leading corporate Bitcoin investor.

Liquidity shifts and resistance levels - Market analysts highlighted the significance of the $101,000 mark as a critical resistance level. According to trader Rekt Capital, BTC must achieve a daily close above this level to confirm a breakout and re-enter price discovery mode.

“Bitcoin will need to Daily Close and/or retest the $101k Range High to breakout, just like in early December 2024,” Rekt Capital shared on X (formerly Twitter).

On Binance, liquidity movements underscored the market’s dynamics, with a major seller at $100,000 unable to prevent the rally. Data from CoinGlass revealed $36 million in BTC short liquidations over 24 hours, reflecting increased bullish sentiment.

What’s next for Bitcoin? - Market participants are now eyeing macroeconomic developments, including the upcoming U.S. jobs report and the inauguration of President-Elect Donald Trump on January 20. Trading firm QCP Capital emphasized that funding rates remain stable compared to BTC’s initial break above $100,000 in December, suggesting the market is not yet overheated.

The focus will remain on whether Bitcoin can sustain its momentum and reclaim the $101,000 resistance as support. Historical price behavior indicates a potential surge toward $103,000 if this level is convincingly breached.

As institutional demand, led by players like MicroStrategy, continues to grow, Bitcoin’s trajectory in the early months of 2025 could set the tone for the rest of the year.

Injective (INJ) rises 30% amid bullish momentum; Golden Cross could signal more gains

Key points:

• Bullish surge: INJ’s price climbed 30% in a week, supported by a 250% increase in trading volume, reaching $274 million.

• Golden Cross potential: A potential golden cross could push INJ to key resistance levels at $26.5, $29.4, and $35.2.

News - Injective (INJ) has seen remarkable performance over the past week, surging by 30% and gaining 14% in the last 24 hours. Supported by bullish indicators and heightened trading activity, the token’s price momentum suggests further upside potential, though caution is warranted due to overbought conditions.

RSI signals overbought conditions - Injective’s Relative Strength Index (RSI) has surged to 80.6, up from 61 a day ago and 36 a week prior. RSI readings above 70 typically indicate overbought conditions, suggesting the asset may experience a cooldown or consolidation in the short term.

While the elevated RSI reflects strong bullish momentum driven by aggressive buying, it also signals a heightened risk of a pullback. Traders should remain cautious, as overbought conditions often precede price corrections.

BBTrend reflects strong momentum - Injective’s BBTrend indicator has reached 11.05, its highest level since November 2024. The BBTrend measures trend strength based on Bollinger Bands, with positive values indicating upward momentum. This sharp recovery from negative territory demonstrates a shift in market sentiment, favoring continued gains.

Despite the bullish signal, the current BBTrend levels suggest the possibility of stabilization or a mild pullback if buying pressure subsides.

Price prediction: Golden Cross could propel INJ - INJ’s price is approaching a golden cross formation, where a short-term EMA crosses above a long-term EMA. If this occurs, it could reignite buying momentum and push INJ to test key resistance levels:

• $26.5: The first significant resistance target.

• $29.4: The next milestone if momentum remains strong.

• $35.2: A level not seen since December 2024, marking a potential 36.4% upside from current levels.

Conversely, failure to sustain momentum or form a golden cross could lead to downside risks. The first critical support level lies at $23.98, with a more bearish scenario targeting $19.7.

What’s next for INJ? - Injective’s price trajectory depends on whether it can sustain its current momentum and overcome key resistance levels. While bullish indicators like the golden cross and BBTrend support continued gains, overbought conditions and the potential for profit-taking could introduce volatility.

Traders should monitor technical signals and market sentiment closely to navigate potential risks and capitalize on opportunities as INJ tests its next key levels.

Crypto ETPs begin 2025 strong with $585M inflows, following record-breaking 2024

Key points:

• Crypto ETPs recorded $585 million in inflows in the first three days of 2025, signaling a positive start to the year.

• 2024 set a new record with $44.2 billion in inflows, driven by the U.S. spot Bitcoin ETF launch.

News - Cryptocurrency exchange-traded products (ETPs) have begun 2025 on a strong note, posting $585 million in inflows within the first three days, according to a CoinShares report. This comes after a record-breaking 2024, which saw $44.2 billion in inflows, a 320% increase from the previous high in 2021.

The surge in 2024 was largely fueled by the historic launch of U.S.-based spot Bitcoin ETFs. These ETFs accounted for 100% of the inflows and contributed significantly to Bitcoin ETPs’ dominance, which brought in $38 billion.

Ethereum-based ETPs also gained momentum, ending 2024 with $4.8 billion in inflows, while XRP and multi-asset ETPs saw $438 million and $257 million, respectively.

Regional trends - The United States emerged as the largest buyer, with $44.5 billion in inflows for 2024. However, countries like Canada and Sweden posted notable outflows, with Canada alone recording $707 million in crypto ETP redemptions last year.

Despite some selling in late 2024, the overall trend for crypto ETPs remains positive, with a total assets under management (AUM) figure of $160.6 billion recorded at the year’s close.

What’s next? - As 2025 unfolds, the continued adoption of crypto ETFs in major markets and growing investor interest in alternative assets suggest further growth in the space. Analysts believe the introduction of more diverse crypto ETP offerings could sustain the momentum, despite regional differences in buying and selling trends.

MiCA's impact: A boost for crypto investment amid overregulation concerns

Key points:

• MiCA regulations took effect on December 30, introducing the world's first comprehensive crypto framework.

• Retail investors face increased scrutiny with stricter data collection and potential taxation measures.

News - Europe’s Markets in Crypto-Assets Regulation (MiCA) officially came into force on December 30, 2024, marking a historic milestone as the first global comprehensive crypto regulatory framework. While some industry experts voice concerns about potential overregulation, others see it as a long-term benefit for the crypto sector.

Dmitrij Radin, founder of Zekret and CTO of Fideum, highlighted MiCA’s positive potential:

“Long-term, [MiCA is] absolutely positive. Every regulation helps us to mature the market. It will drive more funds and more users,” Radin noted during the Emergence Prague event.

Increased oversight for retail investors - MiCA’s implementation may disproportionately affect retail investors. Compliance obligations will likely require individuals to provide extensive personal and financial data, potentially paving the way for new taxation measures. Radin elaborated:

“Retail users will be way more, obligated to provide information, data which will be screened. They will be accounted for. Most Europeans will see taxation.”

This could extend to enforcement actions against blockchain platforms that fail to meet MiCA standards, further reshaping Europe’s crypto ecosystem.

Institutional adoption underway - Major financial institutions are already positioning themselves for MiCA-compliant operations.

Societe Generale partnered with Bitpanda to launch EUR CoinVertible (EURCV), a euro-backed stablecoin aligned with MiCA standards.

Crypto payment platform MoonPay secured MiCA approval in the Netherlands, signaling its readiness to operate under the new framework.

What’s next? - MiCA’s initial rollout may spark debates over regulatory overreach, particularly regarding its impact on retail investors. However, its structured approach could attract institutional investors and boost market maturity. The framework has the potential to create a safer and more transparent crypto environment, fostering trust and investment in the long term.

More stories from the crypto ecosystem

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• Will Trump’s inauguration push Bitcoin beyond $100K? Traders, watch out for…

• Lido’s breakout: How $2.70 can define LDO’s next move

• Mog Coin surges 36% in a week: Can MOG target $0.0000036 next?

• XRP’s 15% jump: Why FOMO is crucial for breaking $3

Did you know?

• The world’s first decentralized search engine, Presearch, rewards users with cryptocurrency for conducting searches, aiming to disrupt the dominance of traditional search engines. Presearch leverages blockchain to ensure privacy and decentralization in a sector controlled by a few major players.

• The largest NFT ever sold was a digital artwork titled "Everydays: The First 5000 Days" by artist Beeple. It sold at a Christie's auction for a staggering $69.3 million in 2021, marking a major turning point in the mainstream recognition of NFTs as valuable digital assets.

• The first crypto exchange-traded fund (ETF) approved in the U.S., the ProShares Bitcoin Strategy ETF, launched in October 2021. This ETF allows traditional investors to gain exposure to Bitcoin via traditional brokerage accounts, opening up new avenues for institutional and retail investors to participate in the crypto market.

Top 3 coins of the day

Injective (INJ)

Key points:

• At press time, INJ was trading at $26, reflecting a 3.03% increase over the last 24 hours.

• It was one of the biggest gainers according to CoinMarketCap.

What you should know:

On the daily timeframe, Injective's price showed a strong upward momentum, rising by over 3% within the last 24 hours. The price comfortably surpassed its short-term moving average, the SMA 9 line, indicating bullish sentiment. The RSI stood at 58.72, suggesting that the asset was approaching overbought territory but still within a neutral range. Meanwhile, trading volume was moderate, supporting the current uptrend. Immediate resistance is likely around $28, while support levels may be observed near $24. A sustained move above the resistance could solidify the bullish trend further.

Filecoin (FIL)

Key points:

• At press time, FIL was trading at $6.10, reflecting a 3.33% increase over the last 24 hours.

• It was one of the top trending cryptocurrencies according to CoinMarketCap.

What you should know:

Filecoin's price movement displayed a bullish recovery on the daily chart, breaching the middle Bollinger Band at $5.97. The upper Bollinger Band at $6.30 acted as a key resistance zone for further upward momentum. Meanwhile, the Directional Movement Index (DMI) showed the +DI line gaining dominance over the -DI line, signaling increased buying pressure. The Average Directional Index (ADX) at 21 indicated a mild trend strength. Trading volume also saw a notable uptick, supporting the price recovery from its recent lows. Immediate support is located at $5.50, while a sustained move above $6.30 could potentially pave the way toward $6.80 in the coming sessions.

Ethena (ENA)

Key points:

• At press time, ENA was trading at $1.23, reflecting a 2.58% decrease over the last 24 hours.

• It was one of the biggest losers according to CoinMarketCap, showing a decline in momentum.

What you should know:

Ethena's price experienced a sharp decline, shedding 2.58% in the past 24 hours. The Parabolic SAR indicated a bearish trend as the dots were positioned above the candles, suggesting sustained selling pressure. Meanwhile, the Awesome Oscillator (AO) displayed a decreasing bullish momentum as the green bars began fading. Volume levels remained moderate, indicating a lack of significant buying activity to reverse the downward trend. Support lies around the $1.15 level, while resistance is at $1.30. A breakout above the resistance could signal recovery, while further declines below the support may extend losses.