Bitcoin Reclaims $100K: All-Time High Within Reach

Seven days into the new year, Bitcoin has delivered consistent positive daily returns, officially reclaiming the $100k level. In doing so, Bitcoin has flipped every market structure back in favor of the bulls and likely completed its first bull market correction. Our attention now turns to Bitcoin’s all-time high (ATH) of $108.4k.

The recent correction, which began following Trump’s victory in early November, marked the first significant, prolonged pullback of this cycle. Lasting 13 days, Bitcoin dipped to a low of $91.5k on December 30. During this period, skepticism was rife. Many anticipated Bitcoin breaking below $90k, with some even speculating that a head-and-shoulders pattern could drive it as low as $80k.

As Bitcoin often does, it defied expectations. Rising 12% from its December 30 low, the recovery has sidelined many of those who doubted its resilience. The bearish structure has been decisively nullified, with Bitcoin regaining bullish momentum across all timeframes.

Now just 6% away from its ATH, Bitcoin appears well-positioned to test and potentially surpass this milestone. The upcoming inauguration of President Trump, less than two weeks away, is expected to heighten volatility and enthusiasm, providing an ideal catalyst for another record-breaking move.

While Bitcoin has led the charge, the altcoin market has followed suit with impressive gains. Notable performers like Solana and Dogecoin have surged 17% and 25%, respectively, over the past week. Additionally, projects like Sui and Cetus, which we spotlighted yesterday, continue to make waves.

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