Bitcoin Bounces Back to $95K as Bullish Sentiment Returns
Bitcoin has recovered from its 2025 and 8-week low of just below $90,000 during late trading on Monday, Jan. 13.The asset gained around $5,000 over the past 12 hours from thatdropor so to tap the $95,000 level during trading in Asia on Tuesday morning.BTC is now back in the middle of its range-bound channel that formed in mid-November, having bounced off the lower band support for the fourth time over the past month.Bitcoin Bullposters Are BackâWe got the bounce, but the question is how much follow-through can we get?â asked business consultant Jacob Canfield on X on Jan. 14.He added that it would be ideal if BTC could hold $92,000 to challenge the range high of $95,400.âThis week will be vital to see if we can get any kind of a bullish close heading into next week before Trumpâs inauguration.â$BTC â We got the bounce but the question is how much follow through can we get?Ideal if we can hold $92,000 to challenge the range high at $95.4K.Getting a lot of SFP (swing fail patterns) at the lows on a lot of alts as well.This week will be vital to see if we can get⌠https://t.co/6LnuGeq9ZG pic.twitter.com/3o2Ndr7q52â Jacob Canfield (@JacobCanfield) January 13, 2025Trader Bob Loukas asked whether the Bitcoin low was in yet, arguing that it wasnât. âSentiment is getting bearish, but permabull accounts are still saying âbuy nowâ vocally,â he observed. He added that a downside move to $80,500, a 50% Fibonacci retracement or 25% drawdown, âwould be normal.âBTC pulled back around 25% in January 2021, the year of the last bull market peak, so history may rhyme.âFrom this point, above $99.9k is positive, and BTC should not trade back over $102.5k in this declining phase,â he said before adding:âBut as they say, this is a bull market, after all. So yeah, ultimately Iâm super bullish, the question is always just on what time frame.âMeanwhile, Bitwise CEO Hunter Horsley said 2025 was the year for Bitcoin and crypto, which has âSo many tailwinds and so few headwinds.âSantiment reported that the top trending topics in crypto heavily revolve around Bitcoinâs temporary drop under $90,000 and Trumpâs inauguration next week.âRegarding the former, the fact that â$90Kâ was being spammed across social media was a great fear signal that would foreshadow a bounce,â analysts said.ď¸ The top trending topics in crypto are heavily revolving around Bitcoinâs temporary drop to under $90K and Trumpâs inauguration next week. Regarding the former, the fact that â$90Kâ was being spammed across social media was a great fear signal that would foreshadow a bounce. pic.twitter.com/gL2GY1Lm6Sâ Santiment (@santimentfeed) January 14, 2025Elsewhere on Crypto MarketsTotal market capitalization remains at $3.43 trillion, where it was this time yesterday following the recovery bounce.Ethereumhasnât recovered as much following itsbrief dipbelow $3,000 and was trading at $3,180 at the time of writing, down almost 14% on the week.Altcoins were mixed with a few in the green, including Dogecoin (DOGE), Sui (SUI), Hedera (HBAR), and Hyperliquid (HYPE).