Institutional investors’ sustained purchasing activity propelled the Bitcoin market past the $100,000 mark, paving the way for a potential retest of its record high. This milestone marks the first time Bitcoin has surpassed $100,000 in 2025. Sentiment may have been bolstered by ongoing acquisitions from the largest corporate holder of Bitcoin. On 6 January, MicroStrategy disclosed that it had acquired 1,070 Bitcoins between 30 and 31 December 2024 for $101 million, at an average price of $94,004 per Bitcoin. This latest transaction brings the company’s total holdings to 447,470 Bitcoin.
Additionally, cryptocurrency investment products witnessed notable inflows in the first three days of the year. A report from CoinShares highlighted $585 million in inflows in 2025, following the substantial $44 billion inflows recorded in 2024.
While analysts are bullish for the long term, they are uncertain about a sharp move in Bitcoin in the near term. 10x Research’s founder Markus Thielen said in a Jan. 5 report that Bitcoin could end January in the $97,000 to $98,000 range.
Could Bitcoin’s rally above $100,000 pull altcoins higher? Let’s analyze the charts to find out.
S&P 500 Index (SPX) Market Analysis
The S&P 500 Index market bounced off the neckline of the head-and-shoulders pattern on Jan. 3, and the bulls pushed the price above the moving averages on Jan. 6.
The 20-day exponential moving average (5,967) is flattening out, and the relative strength index (RSI) has risen into positive territory, indicating that the selling pressure is decreasing. Buyers will try to push the price to 6,050 and then to 6,100. Sellers are expected to fiercely defend the 6,050 to 6,100 zone, but if the bulls prevail, the index could surge toward 6,347.
The bears will have to sink the price back below the moving averages to gain the upper hand. The index could then retest the neckline.
US Dollar Index (DXY) Market Analysis
The US dollar Index market rose to 109.53 on Jan. 2, but the bulls are finding it difficult to sustain the higher levels.
The bears pulled the price to the 20-day EMA (107.77), which is an important support to watch out for. If the rebound off the 20-day EMA sustains, it will signal demand at lower levels. The bulls will then try to push the price to 111.
Alternatively, a break and close below the 20-day EMA will signal that the buyers are rushing to the exit. That could deepen the correction to the 50-day simple moving average (106.42).
Bitcoin (BTC) Market Analysis
Bitcoin has broken above the crucial resistance at $100,000, indicating that the bulls are back in the game.
If the price maintains above $100,000, the BTC/USDT pair could accelerate toward the all-time high of $108,353. This level may witness strong selling by the bears, but if the bulls maintain pressure, the pair may resume the uptrend. The next target on the upside is $126,706.
On the other hand, if the price fails to sustain above $100,000, it will signal that the breakout may have been a bull trap. The bears will have to sink the price below the moving averages to clear the path for a decline to $90,000.
Ether (ETH) Price Analysis
Ether broke and closed above $3,555 on Jan. 3, completing a bullish ascending triangle formation.
The 20-day EMA ($3,529) has started to turn up, and the RSI is in positive territory, indicating that the bulls are in the driver’s seat. The pattern target of the breakout from the ascending triangle is $3,894.
Sellers are likely to have other plans. They will try to pull the price back below $3,555. If they do that, the short-term aggressive bulls may get trapped. That could sink the ETH/USDT pair to the uptrend line.
XRP Price Analysis
XRP is facing selling from the bears at the resistance line, but the bulls have not allowed the price to dip below the 20-day EMA ($2.29).
That increases the likelihood of a break above the resistance line. If that happens, the XRP/USDT pair could rally to $1.73 and eventually to $2.91. Sellers are expected to fiercely defend the $2.91 level.
Time is running out for the bears. They will have to pull the price below the 20-day EMA to keep the pair stuck inside the triangle for some more time. The bears will seize control on a break and close below the support line.
BNB Price Analysis
BNB remains stuck between the 20-day EMA ($703) and the overhead resistance of $722, indicating a tough battle between the bulls and the bears.
The gradually rising 20-day EMA and the RSI just above the midpoint give a slight advantage to buyers. Usually, a tight consolidation is followed by increased volatility. If the price breaks above $722, the BNB/USDT pair could pick up momentum and rally toward $794.
On the contrary, a fall below the 20-day EMA will suggest that the bulls have given up. The 50-day SMA ($685) may act as support but is likely to be broken. The pair may then slump toward $635.
Solana Price Analysis
Solana has broken out of the 50-day SMA ($219), indicating that the bulls are attempting to extend the recovery.
The upsloping 20-day EMA ($205) and the RSI in the positive territory indicate that buyers have an edge. If the price sustains above the 50-day SMA, the SOL/USDT pair could climb to $235 and then to $247.
Contrary to this assumption, if the price turns down and breaks below the 20-day EMA, it will signal that bears remain sellers on rallies. The pair could descend to the support line, where buyers are expected to step in.
Dogecoin (DOGE) Price Analysis
Dogecoin rose and closed above the 50-day SMA ($0.38) on Jan. 4, signalling that the selling pressure is reducing.
The bears tried to pull the price back below the 50-day SMA on Jan. 5, but the bulls held their ground. If buyers drive the price above $0.40, the DOGE/USDT pair could rise to $0.43 and later to $0.48.
Instead, if the price turns down and breaks below the 50-day SMA, it will suggest profit-booking by the bulls. The pair may then slide to the 20-day EMA ($0.35). That will signal a possible consolidation between $0.30 and $0.43.
Cardano (ADA) Price Analysis
Cardano’s recovery is facing resistance near $1.12, but a positive sign is that the bulls have not ceded ground to the bears.
Both moving averages are sloping up, and the RSI is above 62, indicating that the path of least resistance is to the upside. If buyers drive the price above $1.12, the ADA/USDT pair could jump to $1.20. The bears are expected to defend the $1.20 level, but if the bulls pierce the resistance, the rally could reach $1.32.
Alternatively, a break below $1.05 will suggest that the bulls are losing their grip. The pair may then fall to the moving averages.
Avalanche (AVAX) Price Analysis
Avalanche has broken out of the 50-day SMA ($43.23) on Jan. 6, indicating that the bulls are attempting a comeback.
The relief rally is likely to face resistance in the zone between the 50% Fibonacci retracement level of $44.70 and the 61.8% retracement level of $47.31. If the price turns down from the overhead zone, the AVAX/USDT pair could drop to the 20-day EMA ($40.97). A strong bounce off the 20-day EMA will signal a change in sentiment from selling on rallies to buying on dips.
If bears want to prevent the upside, they will have to swiftly pull the price back below the 20-day EMA. If they do that, the pair risks falling to $35.
