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Bitcoin (BTC) is showing real leadership in the digital currency ecosystem amid its price surge. Current market data stakes BTC price reached $99,399.18, rising 1.6% in the past 24 hours. For Bitcoin, year-to-date growth remains linearly bullish, with a lot of similar fluctuations.
Bitcoin price breaks history
Data from Cryptorank displays What this month holds for the price of Bitcoin. Historically, January remains a somewhat bullish month for the currency. Bitcoin price achieved an average growth rate of 9.55% in January.
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Just six days into the month, Bitcoin has already jumped 6.32%, setting an upward pace. If this momentum continues, the coin will likely reach a historic high, as was last seen in January 2023, when it jumped 39%.
Bitcoin's growth is linked to many factors, including the level of adoption of spot Bitcoin ETF products and the influence of Bitcoin whales. So far, both categories of buyers have taken a cautious approach towards the coin, as the coin continues to issue an overbought signal.
While companies like MicroStrategy have intentions for this Keep buying Bitcoincreating natural demand amid Limited daily supplySome pessimists still believe that the currency price may fall soon.
Meanwhile, this pessimistic outlook is not reflected in the current price of the coin as it is witnessing a growth of 5.76% week to date (WTD).
Profitability remains a key factor
BTC price maintains strong resilience despite extreme volatility that masks its growth.
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While traders remain uncertain about the coin's short-term prospects, 94.82% of all BTC addresses, or 51.21 million wallets, are generating profits, making the odds of selling low. Cautious sentiment may remain as the coin faces a moderate selling wall around the $100,000 price.
If Bitcoin posts a positive daily close around this range, it could happen restoration All-time high of $108,000 (ATH).
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