Bitcoin Rebounds as Analysts Eye $130,000 Milestone

Bitcoin continued its upward trajectory on Jan. 2, climbing to $95,880 ahead of the first Wall Street open of 2025. Data from Cointelegraph Markets Pro and TradingView showed BTC/USD gaining 1.5% on the day, recovering from earlier dips to monthly lows. “Christmas Range has swept both sides for liquidity now,” trader Daan Crypto Trades observed, adding that the $95.8K mid-range level had acted as resistance during recent tests. Accompanying charts highlighted increased trading volume at the range lows, which some traders saw as a bullish signal. Daan Crypto Trades advised keeping an eye on range breakouts to anticipate Bitcoin’s movement over the next couple of weeks. Similarly, trader Jelle noted parallels between this year’s price action and last year’s, suggesting a potential upside resolution. “The similarities are there, with or without another sweep of the lows,” Jelle commented, forecasting a breakout to $130,000–$150,000. Entrepreneur Jason Williams shared a comparable outlook, describing the current price range as an accumulation zone. “$BTC has re-entered the accumulation zone,” Williams posted on X, predicting, “$131.5K+ by Q1 2025 feels inevitable. See you there.” His chart compared the current range to Bitcoin’s behavior after reaching all-time highs in March last year, which eventually led to a significant breakout after several months of consolidation. Market sentiment has turned bullish amid optimism about the return of traditional finance traders. Cole Kennelly, founder of crypto volatility index service Volmex, forecasted a renewed push for risk assets, including cryptocurrencies. “My gut tells me the market goes full risk-on and a lot of money piles into crypto, now that end-of-year logistics/rebalancing/etc. is over,” Kennelly stated, anticipating a strong start to the year. The broader crypto market appears poised for a liquidity boost as traders look to capitalize on Bitcoin’s growing momentum.