News 
January 8, 2025 
3 min. 
The crypto space witnessed a downward price movement in the early part of Tuesday with Bitcoin taking the lead as it retreated from recent highs, falling below $96k. However, the market still maintains a solid support around the $100,000 which suggests a short lived break rather than a significant reversal.
As traders return from the holiday season, the Bitcoin market is showing signs of recovering. This recalibration can be seen in Monday’s trading session where BTC demonstrated strong buying interest. However, Tuesday brought a modest pullback as market participants assess the next potential catalyst for price movement.
Bitcoin Strong Support Levels Keep Bulls Optimistic
Technical analysis reveals substantial support near the $100,000 mark, with additional backing around the 50-day exponential moving average. Rather than aggressive trading, investors appear to be adopting a more measured approach, using dips as opportunities for accumulation. This strategy aligns with the market’s overall bullish sentiment, particularly as anticipation builds around the pro-crypto stance of the incoming Trump administration.
The current market behavior suggests a period of consolidation rather than weakness, with many long-term traders viewing these fluctuations as opportunities to build positions. While the immediate political sector has generated excitement, market participants remain patient as they await concrete policy developments.
Trading Volume Surges Despite Price Dip
Trading activity picked up significantly on Tuesday, with a 37% increase in 24-hour volume. This surge in market activity comes as traders adjust their positions in the new year. While some short-term traders are taking profits, market analysts note that many long-term investors continue to hold their positions, seeing the current market as fundamentally bullish despite temporary price corrections.
Meanwhile, the current price of Bitcoin (BTC) at the time of waiting is $95,705.75. The broader market outlook remains positive, with Bitcoin’s market cap holding steady at $1.89 trillion. Even with the recent dip, Bitcoin maintains a 2.39% gain over the past week, highlighting the cryptocurrency’s resilience amid short-term price fluctuations.
