Bitcoin Price Analysis: BTC Consolidates Around $105,000. Will We See A Breakout?

Bitcoin (BTC) spent the weekend fluctuating between $104,000 and $106,000 as momentum waned after encountering resistance around the $107,000 level. The flagship cryptocurrency is trading at around $105,000, having registered only a marginal increase over the past 24 hours. 

BTC has also witnessed a drop in trading volume, indicating indecision as traders await a potential catalyst that could send the price surging. Intraday traders could take advantage of BTC’s current oscillation between $104,000 and $106,000. 

Bitcoin (BTC) At a Pivotal Moment 

Bitcoin (BTC) crossed $100,000 following Donald Trump’s election victory and hit a new all-time high following his inauguration. BlackRock CEO Larry Fink has stated that with a crypto-friendly administration in place, several sovereign wealth funds are looking at BTC. Now, with the Federal Reserve facing a dollar crisis, Coinbase CEO Brian Armstrong has predicted that BTC could flip Gold’s $100 trillion. Armstrong predicted while responding to criticism of plans to establish a national Bitcoin reserve. 

“Any country with gold reserves should be holding at least 11% of that amount in bitcoin reserves. And I believe in the next five to 10 years bitcoin's market cap will likely surpass gold. So these reserves should grow to exceed gold.”

President Trump has been following through on campaign promises to overhaul crypto policy and has ordered the creation of a cryptocurrency working group to draft a new regulatory framework for crypto and explore the creation of a national cryptocurrency stockpile. 

Bitcoin Wallets With $100 Surge To Record Levels 

According to an analysis of on-chain data, Bitcoin wallets holding at least $100 have surged to record levels. Wallet addresses holding at least $100 have surged from 24 million in January 2024 to almost $30 million in January 2025, a 25% year-on-year increase. Spikes in wallets holding $100 have typically been recorded during bull runs and were also seen in 2017 and 2021. 

“This trend reflects an influx of new participants into the market, signaling renewed interest and optimism for the cryptocurrency.”

Additionally, Bitcoin’s hashrate has also surged to an all-time high, crossing 800 exahashes per second in January 2025, up 33% since last year. Binance stated in its blog post, 

“Bitcoin’s hashrate has recently reached an all-time high, surpassing the combined computing power of tech giants such as Amazon AWS, Google Cloud, and Microsoft Azure, which together contribute less than 1% of Bitcoin’s total network capacity.”

Bitcoin (BTC) Price Analysis 

Bitcoin (BTC) faces a stubborn resistance level of around $107,000 as buyers struggle to build momentum. Traders are waiting for a catalyst to dictate price action and kickstart a move towards $110,000 or beyond. BTC ended the previous week in the red, dropping to $101,434 after facing significant volatility. Volatility persisted on Monday as BTC surged to a new all-time high, reaching $109,312. However, it could not stay at this level and registered a sharp drop to an intraday low of $99,516 before settling at $102,408. Buyers retained control on Tuesday as BTC rose nearly 4% to $106,054.

Source: TradingView

Sellers returned to the market on Wednesday as the price dropped 2.21% to $103,715. BTC faced significant volatility on Thursday as buyers and sellers struggled to establish control. As a result, the price dropped to an intraday low of $101,290 and rose to an intraday high of $106,913 before settling at $104,004. Buyers made another attempt to push above $107,000 on Friday as BTC reached an intraday high of $107,038. However, it could not stay at this level and settled at $104,874, ultimately registering an increase of nearly 1%. The price registered a marginal decline on Sunday and is marginally up during the current session, trading just above the $105,000 level.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.