Bitcoin Battles to Hold Above the Critical $100K Level

Bitcoin remains in uncertain territory, hovering around the key $100K price level. Bitcoin has been stuck in a broader range of $90K–$100K since December 19th. Despite several attempts to break out in either direction—including sharp drops below $90K and rallies above $100K—no sustained movement has emerged.

With just three days until Donald Trump assumes office, speculation is mounting about the potential market impact. Reports are circulating that Trump may sign a pro-crypto executive order on his first day in office. Should this materialise, markets could react in a manner reminiscent of election day, propelling Bitcoin out of this month-long consolidation phase. A sustained breakout above $100K could push BTC back to its all-time high of $108K and possibly beyond, establishing new highs.

However, if the anticipated executive order fails to materialise on day one, it wouldn’t be surprising to see Bitcoin correct back to the lower end of its current range.

Regardless of what happens on January 20th, Trump’s presidency is poised to be a pivotal moment for crypto adoption. As the first pro-crypto President, Trump has four years to deliver on his promises. Bitcoin has thrived independently of government support throughout its existence, and now, with the possibility of favourable policies, the potential for success grows even stronger. Whether or not an executive order is signed immediately, the momentum for pro-Bitcoin policies seems inevitable.

Stormrake Spotlight: HeyAnon (ANON) ($20.63)

The broader AI agent sector has experienced a notable pullback over the last 24 hours, with major AI projects seeing losses exceeding 10%. HeyAnon (ANON) is no exception, currently down 15%. However, ANON has a distinct edge over competitors like AI16z, AIXBT and Virtual: it has yet to secure a listing on any major exchanges.

AIXBT, a leading project in the space, rallied 100% following its launch on Bybit just three days ago. If ANON secures a similar listing, it could follow suit with a significant rally. This presents an exciting speculative opportunity for investors eyeing the AI sector.

BTC/USD Key Levels and Price Action:

Bitcoin continues to battle the $100K level, struggling to sustain a move above it. Overnight, BTC faced rejection at this level and dropped to $97.5K before finding support at the 55-EMA and the middle CPR line. Since then, BTC has reclaimed $100K alongside the 21-EMA.

If this bullish move holds and BTC closes above $100K, the next target lies at $104K. However, failure to sustain momentum could see Bitcoin revisiting lower levels within its consolidation range.

BTC Total ETF Flows for 16 Jan: $ + 88.1 million

ETH/USD Key Levels and Price Action:

Ethereum shed 4% from its recent high yesterday and is now at risk of turning bearish. A failed attempt to break the middle CPR line pushed ETH below the key $3,370 level, and it is currently testing the 55-EMA.

If ETH fails to hold this support, it could retrace further to the critical $3,207 level. However, a bounce from current levels could see ETH retest $3,370, with a potential reclaim offering renewed bullish momentum.

ETH Total ETF Flows for 16 Jan: $ - 14.6 million

*All prices are denominated in USD unless stated otherwise*

Written by Alexandar Artis

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