The price of Bitcoin has stabilized around $98,000 after a rebound in early January 2025. Analysts believe that Bitcoin may have entered a bullish phase based on the Elliott Wave Theory, which suggests a potential 5-wave pattern indicating a strong price rally. However, Bitcoin must surpass the resistance level of $99,900 to solidify this notion. A support zone between $95,090 - $96,531 has been identified in case of retracements. If selling pressure intensifies, Bitcoin could drop to $92,950. At the time of writing, Bitcoin is trading at $97,227 with a 0.21% gain in the past 24 hours. The Fear & Greed Index shows investors' sentiment leaning towards extreme greed. Coincodex predicts Bitcoin to reach $132,775 in the first quarter of 2025 and rise as high as $172,192 by June.



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