After a turbulent year-end crash in 2024, Bitcoin (BTC) is regaining its momentum as 2025 unfolds, sparking optimism across the cryptocurrency market. Altcoins have followed suit, bolstering confidence in the broader crypto ecosystem.
BTC’s recovery is driven by key developments, including institutional adoption, macroeconomic shifts, and technological milestones.
Bitcoin’s Milestone Achievements
$19 Trillion Processed in 2024
In 2024, Bitcoin’s network processed over $19 trillion in transactions, more than double the $8.7 trillion in 2023. Pierre Rochard, Vice President of Research at Riot Platforms, highlighted this milestone, calling Bitcoin “the most reliable monetary system in the world for savings and payments.”
This achievement underscores Bitcoin’s dual role as a store of value and a medium of exchange, despite recent market turbulence.
Institutional Adoption and ETF Approval
The U.S. approval of Bitcoin exchange-traded funds (ETFs) marked a turning point for the asset. Institutional inflows surged, expanding Bitcoin’s appeal among mainstream investors.
These ETFs provided a seamless avenue for large-scale investment, boosting liquidity and stabilizing market sentiment.
Key Drivers of Bitcoin’s Performance
Halving and Scarcity
April 2024 saw Bitcoin’s halving event, which reduced mining rewards by 50%. This built-in scarcity mechanism strengthened Bitcoin’s long-term value proposition, intensifying demand among investors seeking inflation-resistant assets.
Geopolitical Dynamics: The “Trump Pump”
The U.S. presidential election fueled speculation about Bitcoin’s potential inclusion in a national strategic reserve. This “Trump pump” amplified global interest, prompting other nations to explore similar Bitcoin-based strategies, cementing its role in economic policy discussions.
Market Volatility: Peaks and Dips
Bitcoin surged to a record $108,000 in 2024, but its inherent volatility brought the price down to $91,000 by year-end. The correction served as a reminder of Bitcoin’s unpredictable nature, even amid bullish macro trends.
Daily Technical Outlook: January 7, 2025
Bitcoin is trading at $100,861, up 1.36% over the past 24 hours, signaling a steady recovery. On the 4-hour chart, BTC has climbed above its 50-day EMA of $98,020, indicating a bullish bias.
However, the price remains capped below the critical resistance of $102,523.
- Resistance Levels: $102,523, $105,801
- Support Levels: $98,020, $97,324, $94,758
- Momentum Indicators: RSI remains neutral, suggesting consolidation.
A decisive breakout above $102,523 could propel BTC toward $105,801, while a failure to sustain momentum may test lower support levels.
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Best Wallet continues to attract attention, as reflected by active engagement on its Twitter and Telegram channels.
The post Exec Declares Bitcoin the Most Reliable Money Ever – $1 Million BTC Possible? appeared first on Cryptonews.
This articles is written by : Fady Askharoun Samy Askharoun
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