Bitcoin Hits 132K Active Addresses as Price Surpasses $100,000

Technical analysis of Bitcoin price hints at a potential correction. However, big picture remains bullish with Active Addresses hitting 132K.
By Akash Girimath
January 16, 2025 | Updated January 16, 2025
Bitcoin Hits 132K Active Addresses as Price Surpasses $100,000

Highlights

  • Bitcoin price hits $100,000 again after rallying 13% since January 13.
  • BTC chart shows recovery as it trades around $100K, but reversal chances are high.
  • Spike in active addresses suggests increased investor interest in Bitcoin.

Bitcoin (BTC) price hit $100,000 again after rallying 13% since January 13. This impressive uptrend is at an impasse, where it could stop and reverse. Due to the high chances of reversal, BTC could provide an opportunity to accumulate if it stabilizes around key support levels. A bounce here could kickstart the next leg of the bull run. Will the uptrend begin or push Bitcoin to slip into sideways movement again?

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Bitcoin Price Today: BTC is down -0.36%

After a 4% growth on Wednesday, January 15, Bitcoin price today trades at $99,875.0 after dropping -0.36%. If this pullback extends, investors should watch for key support levels to determine if a reversal will unfold or extend the losses, undoing recent gains. As a result of the recent uptrend, Ethereum (ETH) and Ripple (XRP) also registered -4.26% and 17.83% gains, respectively.

Bitcoin chart today shows recovery as it trades around $100K.

*bitcoin price updated as of 11 PM

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Bitcoin Active Addresses Spike, Suggest Interest

Data from Santiment shows that the 1-hour active address indicator spiked to 132K on January 15. This spike suggests that more investors are interested in BTC at the current price levels. Considering Bitcoin price hit $100K yesterday, it makes sense for investors to flip bullish. However, the recent uptick is the second largest spike after Decemebr 17, when BTC hit an all-time high of $108,421.

Bitcoin Active Addresses
Bitcoin Active Addresses
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Bitcoin Technical Analysis & Price Targets After $100,000 Retest

From a technical standpoint, Bitcoin price continues to oscillate between the $99.6K to $93.3K range. 70% of the volume traded since November 21, 2024, occurred between these two levels. Hence, the extremes of this range have served as good levels to buy and sell BTC.

The January 13 dip slid below the range low of $93.3K to sweep the equal lows formed at $90.8K. Bitcoin promptly recovered after this sweep, triggering a 13% rally to set up a local top at $100.7K. While the bounce was impressive, it showed signs of reversal as it entered the four-hour imbalance zone, extending from $98.3K to $100.4K. This level coincides with Fibonacci tools’ high probability reversal zone, extending from 61.8% to 79%.  Hence, the chances of reversal are high.

The buy zone, extending from $95,3K to $93.5K is a good place where investors can expect Bitcoin price to attempt a reversal. Investors who missed the initial rally can accumulate BTC here. This zone, coincides with the range’s lower limit of $93.5K making it a high probability reversal zone.

If BTC produces a higher low here, Bitcoin price prediction suggests that the next leg will resume the uptrend and set up a new high at $118,467.

Bitcoin Hits 132K Active Addresses as Price Surpasses $100,000
BTC/USDT 4-hour chart

In conclusion, Bitcoin’s recent uptrend has reached a critical point where it may either continue its ascent or reverse and potentially enter a sideways movement. Investors should closely watch key support levels, as a bounce could trigger the next leg of the bull run. With the spike in active addresses and technical analysis suggesting a high probability of reversal, Bitcoin price prediction indicates a potential opportunity for accumulation.

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Frequently Asked Questions (FAQs)

1. What is the current Bitcoin price?

The current Bitcoin price is $100,000.

2. What is the significance of the $93.3K to $99.6K range for Bitcoin?

70% of the volume traded since November 21, 2024, occurred between these two levels, making them good levels to buy and sell BTC.

3. What is the predicted next leg of the bull run for Bitcoin?

If BTC produces a higher low, Bitcoin price prediction suggests that the next leg will resume the uptrend and set up a new high at $118,467.
Akash Girimath
Senior Cryptocurrency Analyst & Market Strategist Engineer-turned-analyst Akash Girimath delivers data-driven insights on cryptocurrency markets, DeFi, and blockchain technology for platforms like AMBCrypto and FXStreet. Specializing in technical analysis, on-chain analytics, and risk management, he empowers institutional investors and retail traders to navigate market volatility and regulatory shifts. A hands-on strategist, Akash merges active crypto portfolio management with research on Web3, NFTs, and tokenomics. At AMBCrypto, he led cross-functional teams to redesign content frameworks, achieving record-breaking traffic growth through scalable editorial strategies. His analyses dissect market sentiment, investment strategies, and price predictions, blending macroeconomic trends with real-world trading expertise. Known for mentoring analysts and optimizing workflows for high-impact reporting, Akash’s work is cited across global crypto publications, reaching 500k+ monthly readers. Follow his insights on YouTube, X, and LinkedIn for cutting-edge perspectives on decentralized ecosystems and crypto innovation.
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