The Coinbase Premium Index has turned bullish for the first time since December 16, indicating an uptick in demand from the U.S. market as Bitcoin's price continues to trade above $100,000. Microstrategy made its ninth consecutive Bitcoin purchase worth $101 million, while Whale Alert data showed an accumulation trend in the market. CryptoQuant data revealed a dominance of buying pressure in the American market, with the platform noting that Bitcoin's 14-day Simple Moving Average also turned positive for the first time in three years. BTC's price has surged by 4% in the last 72 hours, and if U.S. investors continue to drive demand, Bitcoin's price could reach new all-time highs. The report also highlighted growing demand and a constriction in Bitcoin's available supply, while predicting that the market will reach its cycle peak by Q1 2025 or Q2 2025. Additionally, spot Bitcoin ETFs gained momentum with $908 million flowing into ETFs on January 3. A report by 10xResearch suggested that Bitcoin could approach its all-time high ahead of Trump's inauguration and have a positive start to the year before a slight pullback leading into the U.S. Consumer Price Index data release on January 15.



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