Jan 8, 2025
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Bitcoin Price Drops Below $100,000 Despite Positive Coinbase Premium Index
Bitcoin (BTC) has experienced volatile price action in early 2025, briefly surpassing $102,000 before dropping below $100,000. As of now, it is roughly 8.9% below its all-time high of $108,135.
Key Developments
- The Coinbase Premium Index turned positive for the first time in 2025, indicating a potential shift in US investor sentiment.
- A notable outflow of 4,012 BTC from Coinbase suggests renewed buying interest among US investors.
- Despite positive signals, Bitcoin's price fell by 3.3% over the past 24 hours.
- Current support levels are between $95,400 and $98,400, where over 1.77 million addresses hold 1.53 million BTC.
- Resistance is limited, with only 107,000 BTC available between $104,700 and $105,770, which could facilitate upward movement if buying pressure increases.
- Analysts maintain a bullish outlook, with expectations of a potential rally to $112,000.
