Bitcoin Bounces Back to $95K as Bullish Sentiment Returns

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On the evening of January 13th, Bitcoin bounced back from a 2025 low and an 8-week low that dipped slightly below $90,000.

Over the last 12 hours, the value of the asset increased by approximately $5,000 due to the recent drop, reaching a peak of around $95,000 during Asian trading sessions early on Tuesday.

As a cryptocurrency investor, I’ve noticed that Bitcoin has once again found itself within the established trading channel from mid-November. Remarkably, this is the fourth occasion in the last month where it has rebounded from the lower band support.

Bitcoin Bullposters Are Back

Business consultant Jacob Canfield wondered on X on January 14th, ‘Have we made a good start, and to what extent can we sustain our progress?’

He added that it would be ideal if BTC could hold $92,000 to challenge the range high of $95,400.

This week is significant as it could determine if we manage to end with an upward trend, which might lead to further positive movement in the market by the time of President-elect Trump’s inauguration.

$BTC – We got the bounce but the question is how much follow through can we get?

Ideal if we can hold $92,000 to challenge the range high at $95.4K.

Getting a lot of SFP (swing fail patterns) at the lows on a lot of alts as well.

This week will be vital to see if we can get…

— Jacob Canfield (@JacobCanfield) January 13, 2025

As a crypto investor, I’ve been pondering if the Bitcoin low has already hit. The general sentiment seems bearish, yet the permabulls are still urging to buy now. It seems odd, but a dip to around $80,500, which represents a 50% Fibonacci retracement or a 25% drawdown, might just be the norm in this volatile market.

In January 2021, Bitcoin experienced a dip of approximately 25%, which was during the peak of the last bull market. This could suggest a pattern repeating itself from the past.

He stated that any value beyond $99,900 is considered positive for BTC, and it’s unlikely that the price will rise above $102.5k during this downward trend, followed by mentioning:

However, as commonly expressed, we’re in a ‘bull market.’ Therefore, I remain extremely optimistic overall; the real question revolves around the specific timeline.

Similarly, Bitwise CEO Hunter Horsley expressed his view that the year 2025 would be significant for Bitcoin and cryptocurrencies, as they have “An abundance of positive factors and very few negative ones.

According to Santiment’s report, the hottest themes in cryptocurrency right now are centered around Bitcoin dipping below $90,000 and the upcoming inauguration of former President Trump.

Analysts mentioned that the frequent appearance of ‘$90K’ on social media platforms served as a strong warning sign, hinting at an impending price drop in the market.

Currently, the most discussed subjects in cryptocurrency are mainly focused on Bitcoin’s temporary dip below $90,000 and the upcoming inauguration of former President Trump. As for Bitcoin, the widespread posting of ‘$90K’ on social media served as a significant warning sign that hinted at an impending rebound.

— Santiment (@santimentfeed) January 14, 2025

Elsewhere on Crypto Markets

The total market capitalization stays at a whopping $3.43 trillion today, having rebounded from its position yesterday.

After a quick drop beneath $3,000, Ethereum has not bounced back significantly yet, and it was being traded around $3,180 as this text was composed, representing a decrease of nearly 14% for the week.

Various altcoins showed a mixed performance, with some like Dogecoin (DOGE), Sui (SUI), Hedera (HBAR), and Hyperliquid (HYPE) moving upwards.

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2025-01-14 10:00