Bitcoin Price Prediction for January 30

Although Bitcoin’s price recently surged above $106,000, it struggled to maintain its momentum. Buyers are strongly defending the support level at $102K. The trading volume for Bitcoin has surged by 33.2% over the past 24 hours, reaching $54.09 billion.

Looking at a broader time frame, Bitcoin dropped below $100,000 on January 7 and has generally been on a downward trend since then. It hit a low at $89,397 on January 13 but has begun to recover from this decline. Over the last 24 hours, its total market capitalization has risen by 3.5% to $2.09 trillion.

Bitcoin’s Large Transaction Volume Drops

Bitcoin’s price jumped sharply after President Trump signed several executive orders in favor of the cryptocurrency market. This action reignited interest and pushed Bitcoin’s price higher. However, BTC is now facing a downward correction.

In the last week, Bitcoin’s price dipped slightly by 0.4%, but it’s up 11% over the past month. Today, it hit a high of $106,418 but didn’t attract enough buyers, leading to a period of stabilization.

Over the last two days, the volume of large transactions decreased as prices began to stabilize. Data from IntoTheBlock shows that this volume fell from a high of 837.9K BTC to a recent low of 661.9K BTC, indicating less trading activity from big investors or “whales.”

This lack of interest from whales might push Bitcoin’s price down as it tries to climb again. Moreover, the rising U.S. debt could also threaten Bitcoin’s price, potentially causing more selling if Bitcoin can’t break through important resistance levels.

Despite these challenges, Bitcoin’s funding rate is still positive at 0.0041%, showing that buyers might still have a chance to drive the price up past the $108,000 level.

Bitcoin Price Prediction: Technical Analysis

Bitcoin price has been on a strong surge as it broke above previous resistance levels and is now attempting to surge above immediate Fib channel. However, it is experiencing some selling pressure around the $106K level, creating a significant challenge for buyers. Right now, Bitcoin is priced at $105,972, having risen by 1.01% in the last 24 hours.

The Bitcoin to USDT trading pair is still just under $106,000, which might pose a slight challenge. If it can stay above this level, it would be advantageous for buyers. The price could then rise to $108,000, and potentially even to $111,000.

On the other hand, if the price drops below the EMA20 trend line on the 1-hour chart, sellers might push it back down to $102K. However, RSI suggests there might be a potential rise, as it’s currently at a level (60) that indicates buying interest.

Bitcoin Price Prediction: What to Expect Next?

Short-term: According to BlockchainReporter, BTC price might continue to struggle around $106K. However, the pressure might soon weaken, resulting in a surge toward $108K. On the other hand, $102K is the lower range.

Long-term: According to Coincodex’s current Bitcoin price prediction, the price of Bitcoin is predicted to rise by 26.02% and reach $133,282 by March 1, 2025. Coincodex’s technical indicators suggest that the current sentiment is bullish, while the Fear & Greed Index is showing 70 (Greed). Bitcoin has recorded 18 out of 30 (60%) green days with 4.19% price volatility over the last 30 days. Based on the Bitcoin forecast from Coincodex, it is now considered a good time to buy Bitcoin.

Investment Risks for Bitcoin

Investing in Bitcoin can be risky due to market volatility. Investors should:

• Conduct technical and on-chain analysis.
• Assess their financial situation and risk tolerance.
• Consult with financial advisors if necessary.