Bitcoin (BTC) Price Prediction for January 22

Although Bitcoin’s price recently climbed toward $107,240, it failed to sustain this level and soon dropped to $103,691. Over the past 24 hours, Bitcoin’s trading volume has decreased by more than 40%, totaling $62.7 billion.

In a broader perspective, Bitcoin fell below $100,000 on January 7 and showed a downward trend. It reached a low of approximately $89,397 on January 13 but has started to recover. Over the last 24 hours, its total market capitalization decreased by 1.69%, settling at $2.04 trillion.

Bitcoin’s Funding Rate Touches 0.0074%

Bitcoin’s price experienced a decline following Donald Trump’s inauguration speech, which notably lacked any mention of cryptocurrencies, sparking uncertainty in the market. Additionally, Bitcoin has been struggling to maintain momentum as it faces repeated rejections at the $107,000 price level, primarily due to increased selling pressure from short-term holders who are looking to capitalize on any significant price gains.

Over the course of the last week, Bitcoin has seen an uptick of 4.95% in its price, and over the past 30 days, it has achieved a total gain of 11.2%. Despite these positive movements, when Bitcoin’s price reached $107,240, it failed to attract enough buyers to sustain its climb, resulting in a pullback to $103,691.

The trading sentiment during this period is illustrated by data from Coinglass, which indicates that there was a total liquidation of over $48 million in the Bitcoin market. This consisted of $25 million worth of positions liquidated by buyers and about $23 million by sellers, reflecting the volatility and the nearly balanced domination of buying and selling pressure.

However, despite the bearish undertones suggested by these liquidations, the funding rate for Bitcoin remains at a positive 0.0074%. This suggests that buyers are still somewhat bullish and maintain a slight advantage, potentially positioning them to drive a recovery from the current price levels.

Bitcoin Price Prediction: Technical Analysis

The price of Bitcoin struggled to hold on to its momentum around $107,000, resulting in a steep decline toward $103K. Currently, it is experiencing some selling pressure around a key technical level but may soon break through it. Right now, Bitcoin is priced at $104,099, having dropped by 1.24% in the last 24 hours.

The Bitcoin to USDT trading pair is struggling around $104,000, which might pose a slight challenge. If it can stay above this level, it would be advantageous for buyers. The price could then attempt to move above $108,256, and potentially even to $111,000.

On the other hand, if the price continues to trade below the EMA20 trend line on the 1-hour chart, sellers might push it back down to $100,000. However, the RSI around level 51 suggests there might be a potential rise.

Bitcoin Price Prediction: What to Expect Next?

Short-term: According to BlockchainReporter, BTC price might continue to struggle around $104K. However, the pressure might soon weaken, resulting in a consolidation below $108K.

Long-term: According to Coincodex’s Bitcoin price prediction, the price of Bitcoin is expected to rise by 24.38% and reach $130,778 by February 21, 2025. Coincodex’s technical indicators suggest that the current sentiment is Bullish, and the Fear & Greed Index indicates a level of 84, which signifies Extreme Greed. Over the past 30 days, Bitcoin has recorded 17 out of 30 green days with a price volatility of 3.65%. Based on this forecast, it is 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.