Bitcoin Price Surges Above $95,000 After Recovery from $90,000
The crypto market saw a recovery as Bitcoin rebounded after briefly falling below $90,000. It has surged 2.45% in 24 hours and is now above $95,000.
Key Points on Bitcoin Price Analysis
- Strong support established at the $92,000 zone.
- Price formed a long-legged doji candle, avoiding a bearish close.
- Current trading price is $95,357 with an intraday gain of 0.90%.
- Potential short-term target set at $102,735; breakout could lead to new all-time highs around $112,835.
- Positive alignment in exponential moving averages supports bullish trend.
- Daily RSI indicates increasing bullish momentum.
Funding Rate and Market Sentiment
- Bitcoin open interest rose by 1.05% to $61.18 billion.
- Liquidations totaled $19.17 million, with $18.44 million from short positions.
- Funding rate increased to 0.0105%, indicating potential buying opportunities.
Institutional Investment Trends
- US Bitcoin spot ETFs saw a negative net inflow of $284.19 million on January 13.
- BlackRock's ETF recorded a positive flow of $29.46 million.
- Fidelity faced outflows of $113.64 million; other entities saw nearly $200 million in combined outflows.
Network Activity
- Large Bitcoin transactions surged from 15.62K to 20.28K.
- Transaction volumes increased from $39.4 billion to $57.95 billion.
Conclusion
Despite lack of institutional support, bullish trends are emerging in Bitcoin's derivatives and on-chain activity. The upcoming swearing-in ceremony of Donald Trump may further influence market sentiment positively.