Bitcoin Edging Closer to $100,000 for the First Time in 2025, Following a Remarkable Six-Day Gain

Bitcoin has had a phenomenal start to the year, gaining traction as positive optimism spread throughout the cryptocurrency market.

Bitcoin, the leading cryptocurrency by market capitalization, is edging closer to the $100,000 mark for the first time in 2025, notching six consecutive days of gains.

At press time, Bitcoin is trading up 1.27% in the last 24 hours to $99,021, having hit intraday highs of $99,888. The price of BTC began to rally from lows of $91,887 on Dec. 31 and has continued into the new year, marking its seventh day of gains assuming today closes in the green.

Bitcoin touched record highs of $108,268 on Dec. 17, 2024. However, the rally fizzled out shortly after, likely due to year-end profit-taking and hawkish Fed rate predictions.

As Bitcoin makes another push above $100,000, traders are now eyeing the next levels of resistance and support.

Crypto analyst Michael Van de Poppe noted that Bitcoin is “grinding upwards to the crucial breakout level,” and a break above $100,000 could see a new ATH in January.

What else is happening?

Bitcoin development firm MicroStrategy is planning to raise $2 billion in preferred stock offerings in Q1 2025 to fund further Bitcoin purchases. Japanese investment firm Metaplanet also announced plans to buy 10,000 BTC.

MicroStrategy could be announcing a fresh Bitcoin purchase today, Monday, according to a teaser tweet from co-founder Michael Saylor.

Since late 2024, Saylor has tweeted a chart of the SaylorTracker about a day before revealing new purchases, causing BTC prices to rise in anticipation but then fall when official announcements are made.

On the macroeconomic front, investors will be watching closely as officials meet again in January to make monetary policy decisions.

Traders in the Fed funds futures market are pricing in a pause in rates at the next meeting, according to the CME FedWatch Tool. In December, the Federal Reserve dropped interest rates by a quarter percentage point but said that there will be fewer rate cuts in 2025.