Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Bitcoin Tops $100K. Are Bulls Out of the Woods?

Bitcoin Tops $100K. Are Bulls Out of the Woods?

U.TodayU.Today2025/01/16 18:34
By:U.Today

The price of Bitcoin , the leading cryptocurrency by market capitalization, briefly managed to reclaim the $100,000 level on the Bitstamp level earlier today. 

The cryptocurrency reached an intraday high of $100,510 after spiking by more than 2% on Wednesday. 

The rally comes after a Reuters report stating that the SEC will start overhauling its crypto policies immediately following the imminent departure of SEC Chair Gary Gensler. 

Bitcoin also got a boost after December's core inflation readings, which exclude food and energy, ended up being better than initially expected. This revived traders' hopes of the U.S. Federal Reserve implementing several rate cuts this year. 

Earlier this month, Bitcoin briefly slipped below $90,000 due to the Fed potentially scaling back easing in 2025. 

However, the bulls might not be out of the woods just yet. As  reported by CNBC, banking giant Standard Chartered recently predicted that another drop below the $90,000 level could lead to a much steeper correction. 

The bank noted that spot Bitcoin ETF purchases were merely breaking even as of recently. On Tuesday, these producers logged a total of $209 million worth of outflows. 

Bitcoin is lagging behind altcoins 

Despite its impressive price gains, Bitcoin is still lagging behind major altcoins. 

The Ripple-affiliated XRP token is stealing the show with a 10% price spike. 

Ethereum (ETH), Solana (SOL), and Cardano (ADA) have also substantially outperformed Bitcoin. 

However, BNB has notably underperformed the crypto king with a relatively modest 1.8% increase. 

1

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

ETH Bull Market through the Eyes of a 24-word Cryptography Expert: End-of-Year Target $4000, Is it the Starting Point or the Finishing Line?

Experts predict that the price of Ethereum (ETH) will reach an average of $4,308 by the end of 2025, rise to $10,882 by the end of 2030, and further climb to $22,374 by the end of 2035.

BlockBeats2025/07/23 03:09
ETH Bull Market through the Eyes of a 24-word Cryptography Expert: End-of-Year Target $4000, Is it the Starting Point or the Finishing Line?