Bitcoin (BTC) Tries to Push Towards New All-Time Highs, Sets $107,000 as Key Resistance Level

On January 24, Bitcoin (BTC) was trading around $105000, but dropped below $103000 as the crypto market failed to react to the U.S

On January 24, Bitcoin (CRYPTO: BTC) was trading around $105,000, but dropped below $103,000 as the crypto market failed to react strongly to U.S. President Donald Trump’s executive order exploring a national digital asset stockpile.

On January 24, Bitcoin (CRYPTO: BTC) was trading around $105,000, but dropped below $103,000 as the crypto market failed to react strongly to U.S. President Donald Trump’s executive order exploring a national digital asset stockpile.

Despite hopes that the order would push the market higher, the reaction was muted. Bitcoin didn’t retest its highs, and altcoins showed mixed results, leaving the community questioning the true impact of the order.

Adding to the uncertainty was the lack of focus on Bitcoin in the executive order, which further added to the confusion.

Adding to the uncertainty was the lack of focus on Bitcoin in the executive order, which further added to the confusion.

Still, the first week after the inauguration was eventful, with promises to make America “the World Capital of Crypto.”

Bitcoin Chart by TradingView

Analyst Predicts Bitcoin’s Path to New All-Time Highs

According to analyst Josh from Crypto World, Bitcoin is currently trying to push towards new all-time highs, with the $107,000 mark being a key resistance level.

After a short pause in its bull run, Bitcoin appears to be gearing up for its next big move. Bitcoin is facing resistance between $106,000 and $107,000, an area that has caused rejections in the past. A confirmed breakout above $107,000 would signal a bullish move.

Bitcoin’s all-time high sits just above $109,000, and as of now, it’s hovering between $105,000 and $107,000, just a few thousand dollars away from breaking that record. The next major target is $116,000, a level that’s been on the radar since Bitcoin broke above $100,000.

If Bitcoin faces another rejection, support levels are at $101,000 to $103,000. There is an important level around $99,000 where buyers have previously stepped in.

On the liquidation heatmap, liquidity is growing just above $107,000, with further targets near $110,000.

Bitcoin’s Potential in 2025: Two Different Takes

There are two main views on Bitcoin’s future. One view suggests that Bitcoin is just beginning a massive bull run, with the price possibly doubling or more by 2025.

There are two main views on Bitcoin’s future. One view suggests that Bitcoin is just beginning a massive bull run, with the price possibly doubling or more by 2025.

Strong fundamentals, such as increasing support from the U.S. government, Wall Street, and global instability, could help Bitcoin rise further without forming a bubble.

The other view is more cautious. The positive outlook for crypto might already be priced in after the U.S. elections. In this case, crossing the $100,000 mark could signal the end of the bull market, with Bitcoin’s price expected to peak between $100,000 and $160,000 in 2025.

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