January is wrapping up with a bullish rally, fueling optimism among crypto traders. Excitement has grown even further following Trump’s launch of his own token last week, promising a bright future for crypto as we move into 2025.
7 Days Heatmap
After reclaiming the $100,000 mark, BTC has reentered bullish territory, closing the week on a strong note and driving significant gains in major altcoins such as ETH, which rose nearly 3%, and SOL, which surged by over 25%.
BTC Analysis
In our previous BTC update, it was noted that BTC had been fiercely rejecting the $100,000 mark.
With fundamentals aligning perfectly with technicals, the bulls have dominated every battle this month.
To secure the long-term bullish momentum, the bulls need to push BTC above its all-time high of $109,000.
ETH Analysis
In our recent market overviews, ETH has been consolidating within a wide range between the $3,000 and $3,500 levels.
While ETH remains in this range, our strategy will involve trading it efficiently by buying near the lower bound and taking profits around the upper bound.
Similar to BTC, for the bulls to gain long-term control, ETH needs to break above the $3,550 checkpoint.
Quote of the week
When in doubt, get out and get a good night’s sleep. I’ve done that lots of times and the next day everything was clear… While you are in the position, you can’t think. When you get out, then you can think clearly again.
~ Michael Marcus
Closing Remarks
In summary, January ends on a bullish note, bringing renewed optimism to the crypto market. BTC has reclaimed the $100,000 mark, closing the week strong and driving significant gains in altcoins like ETH and SOL.
BTC’s long-term bullish momentum hinges on breaking its $109,000 all-time high, while ETH continues to range between $3,000 and $3,500. A break above $3,550 is key for ETH to establish long-term bullish control.
Overall, fundamentals and technicals are aligning, keeping the bulls in charge as we move into 2025.
Loving these market updates? Explore our detailed analysis for insights into upcoming trends and potential trading setups.
