Crypto Week Ahead: Bitcoin Regains Upward Momentum As Bullish Market Becomes A Possibility

Crypto Week Ahead: Over the past seven days, Bitcoin (BTC) price achieved a high of $99,611.09.

BTC dominance, at the time of writing, stood at 55.78 percent.

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Bitcoin (BTC), the world’s oldest and most valuable crypto, managed to nearly touch the $100,000 mark early Monday, potentially signalling a return of bullish trend in the sector. It is largely believed that major companies including MicroStrategy zeroing in on Bitcoin purchases could lead to the latest rally. 

Before we proceed further, readers should note that the overall crypto market and coin prices are extremely volatile. There are no foolproof methods to ascertain how cryptocurrencies are expected to behave in the future. 

This article is aimed at helping investors stay on top of the current market scenarios and the biggest events that have already taken place as well as some upcoming occurrences that are worth noting. Investors are advised to do their research before taking any calls. 

Crypto Prices Over The Past Week

Last Monday (December 30), the overall crypto market cap stood at $3.27 trillion. BTC price stood at around $96,000. ETH price stood at around $3,400.

A week later, the overall market cap rose to $3.53 trillion.

DeFi's total volume stands at $8.17 billion, at 8.99 percent of the total market 24-hour volume. In the case of stablecoins, the overall volume stands at $80.97 billion, at 89.11 percent of the total 24-hour market volume. As per CoinMarketCap, the overall market fear and greed index stood at ‘Greed’ with 60 points (out of 100).

BTC dominance, at the time of writing, stood at 55.78 percent.

Over the past seven days, Bitcoin achieved a high of $99,611.09 (on January 6) and a low of $91,5303.9 (December 30).

Ethereum, on the other hand, saw a high of $3,691.88 (January 6) and a low of $3,306.41 (December 30).

What Crypto Traders Are Saying About Current Market Scenario

Mudrex co-founder and CEO Edul Patel told ABP Live, "Bitcoin maintained its upward momentum over the weekend, edging closer to the $100,000 milestone. The rally helped Bitcoin regain its 50-day moving average, signalling a potential continuation of the bull market. Additionally, institutions like Meteplanet and MicroStrategy added to the momentum through their plans of accumulating more Bitcoin. Despite the price action, Bitcoin’s dominance remains at 55.6% suggesting a rally across the broader market in the coming week.”

Thangapandi Durai, CEO and Founder, Koinpark, said, “Bitcoin’s performance this week underscores both resilience and opportunity in the market. MicroStrategy’s decision to expand its holdings reinforces institutional confidence in Bitcoin’s long-term potential, while ETF outflows reflect the natural ebb and flow of a maturing asset class. On the technical side, Bitcoin has held strong support around $97,000 and is testing resistance near $99,000. A breakout above this level could signal upward momentum, while current stability suggests healthy consolidation.”

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Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.