Bitcoin is back in rally mode. The price pushed through the key $93,000 resistance and climbed as high as $94,945, gaining about 3.3% in the last 24 hours. That move signals renewed momentum after weeks of consolidation.
What the charts are saying
Momentum indicators look healthy. The RSI is sitting around 57, which suggests BTC still has room to move higher without being overheated. A bullish MACD crossover on the daily chart adds confirmation that upward momentum is strengthening.
Why Bitcoin is moving up
Several factors are lining up in BTC’s favor:
Inflation data helped sentiment: December CPI held steady at 2.7% year-over-year, while Core CPI eased to 2.6%, reinforcing hopes for a soft economic landing.
Strong ETF demand:
U.S. spot Bitcoin ETFs saw $753.8 million in net inflows on January 13 the biggest single day inflow in three months.
Institutional buying continues:
MicroStrategy added 13,627 BTC, spending $1.25 billion at an average price of $91,519.
Regulatory optimism:
The U.S. Senate’s review of the CLARITY Act is boosting long-term confidence in the digital asset space.
Current market snapshot
Price: $94,945
24h change: +3.36%
7-day change: +4.04%
24h volume: $60.7B
Market cap: ~$1.9T
Bitcoin dominance:
58.8%, showing BTC is leading this recovery
Key levels to watch
Resistance: $94,700, then the psychological $100,000 level
A clean break above $95,000 could open the door toward $108,000
Support zone: $91,500–$92,000 on pullbacks
Losing $90,000 could trigger a deeper correction toward $85,000
More than $1 billion in short positions could be liquidated if BTC pushes above $97,100, which may fuel a sharp short squeeze.
Market sentiment & risk
The Fear & Greed Index sits at 52 (Neutral) not euphoric, not fearful. That leaves room for upside, but also means traders should stay cautious if momentum fades.
Bottom line:
Bitcoin’s breakout is being driven by solid macro data, heavy institutional inflows, and improving technicals. As long as BTC holds above key support levels, bulls remain in control but the next few days around $95K–$100K will be critical.
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