January 14 News, as Bitcoin prices continue to strengthen, market discussions about “whether Bitcoin is about to hit a new all-time high” have noticeably intensified. As of now, Bitcoin price remains firmly above $95,000, with intraday gains approaching 4%, and the cumulative increase over the past 30 days exceeding 6%. Bullish sentiment is gradually warming. Against this backdrop, Tom Lee’s prediction of a new high for Bitcoin in January has once again become the market focus.
From a technical perspective, Bitcoin has completed an effective breakout of the cup and handle pattern, with resistance around $94,800 being broken with increased volume, indicating genuine buying interest rather than purely liquidity-driven moves. According to classic technical calculations, the target price corresponding to this pattern points to $106,600. However, before further upward movement, Bitcoin still needs to regain the key psychological level of $100,000, with important support levels on the chart around $100,200.
On-chain data also provides support. Currently, major trading clusters are concentrated below the current price, implying that a large amount of chips are in floating profit, with relatively limited short-term selling pressure. This supply structure, combined with bullish patterns, makes this rally more sustainable.
In terms of capital behavior, the movements of whales are particularly critical. Since early January, wallets holding between 10,000 and 100,000 BTC have continued to increase their holdings, with total holdings rising from approximately 2.18 million BTC to 2.20 million BTC, reflecting confidence among large-scale investors. Meanwhile, retail investor behavior has also shifted, with wallets holding between 0.01 and 0.1 BTC showing a slight increase, indicating that retail investors are no longer eager to sell during the rally, which was one of the main resistances during previous rebounds.
It is important to be cautious of risks in the derivatives market. Currently, long positions are significantly larger than short positions. If the price falls below the pattern support near $94,800, it could trigger a concentrated liquidation, leading to a short-term pullback to above $90,000. However, the buying strength from spot markets remains an important factor limiting downside risk.
Overall, as long as Bitcoin holds the $94,500 to $94,800 range and continues to attract spot demand, reaching $100,000 and even $106,600 is not out of reach. Once it breaks above the major supply zone at $112,000, the path to the all-time high will become clearer, and Tom Lee’s prediction may evolve from a “forward-looking judgment” to a “structural outcome.”
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