Bitcoin (BTC) continued its upward trend on January 2, 2025, with the cryptocurrency surpassing $95,000 on Bitstamp as it builds momentum ahead of the first Wall Street trading session of the year.
Data from TradingView recorded a 1.5% daily gain for BTC, with the price reaching $95,880. This comes after Bitcoin rebounded from monthly lows at the end of 2024, showing strength as anticipated deeper support tests failed to materialize.
Analysts Anticipate Further Gains
Market analysts and traders expressed optimism about Bitcoin’s trajectory, predicting a potential rally to new highs. Trader Jelle highlighted similarities between Bitcoin’s price action in early 2025 and a previous fractal that resolved to the upside.
“The next leg higher is right around the corner,” Jelle commented, projecting a price range of $130,000 to $150,000 for BTC in the near term.
Entrepreneur and investor Jason Williams echoed this sentiment, predicting Bitcoin could surpass $131,500 during Q1 2025. “BTC has re-entered the accumulation zone,” Williams stated, adding that a consolidation phase could precede a breakout to new all-time highs.
Broader Crypto Market Rises
The bullish momentum extended to other major cryptocurrencies, with XRP leading the charge. XRP surged 11% in 24 hours, fueled by $1.3 billion in trading volumes on South Korea’s UpBit exchange, historically a signal of price volatility with an upside bias.
Other significant gainers included:
- Cardano (ADA), Solana (SOL), and Chainlink (LINK): Up by as much as 8%.
- Ether (ETH) and Binance Coin (BNB): Up 3%.
- Dogecoin (DOGE) and Shiba Inu (SHIB): Up 5%.
Optimism Fueled by Macro and Regulatory Factors
The anticipation of a crypto-friendly administration under incoming U.S. President Donald Trump is a key driver of market optimism. Trump’s campaign promises, including strategic support for Bitcoin and crypto-friendly policies, have bolstered confidence among market participants.
Institutional adoption is another critical factor supporting the bullish outlook. Galaxy Research predicts that at least five Nasdaq-100 companies and five nation-states will adopt Bitcoin this year, with a potential price target of $185,000 for Bitcoin and $5,500 for Ether (ETH).
Singapore-based QCP Capital also emphasized that institutional rebalancing in January could fuel further gains. With Bitcoin now widely adopted by institutions, analysts predict increased allocations and reduced volatility, moving the asset closer to mainstream acceptance.
Bitcoin’s strong start to 2025 has reignited optimism in the crypto market, with analysts, traders, and institutions aligning their expectations for new all-time highs. With favorable macro conditions, regulatory support, and institutional interest, Bitcoin appears poised for continued growth in the months ahead.
