Bitcoin’s Best Week Since 2024? A Bullish Comeback
- Repoter 11
- 15 Jan, 2025
Bitcoin's on a Tear! Best Week Since Trump's 2024 Win?
Hold onto your hats, crypto fans! Bitcoin (BTC) kept climbing on Friday and is heading for its biggest weekly jump since way back when Trump won the election in November 2024.
The OG crypto was comfortably sitting around $95,000 Friday afternoon (up almost 2%!), with Ethereum (ETH) tagging along nicely above $1,800. Other coins like SUI, BCH, and HBAR were also popping, leading the pack in the CoinDesk 20 index.
This surge is a sweet comeback from those early April blues, shaking off worries about tariffs. BTC's rocketed over 11% just since Monday! Remember that big rally after Trump's win? This week is looking that good.
Even the big-money ETF investors are jumping back in – they've poured a hefty $2.68 billion into US Bitcoin ETFs this week alone. That's the most since December!
One expert from Coinbase, David Duong, thinks Bitcoin is really starting to do its own thing, not just following stocks or gold anymore. He called it a potential "inflection point" and said it shows BTC is becoming a real store-of-value people trust, even when other markets get shaky. More companies are apparently agreeing, looking to hold BTC like Michael Saylor famously did.
But heads up! Another analyst, Dr. Kirill Kretov, warned that a lot of Bitcoin isn't easily available to trade right now ("liquidity drained"). This means the market is "thin" and big moves (like 10% swings up OR down) could happen suddenly.
Still, the vibe is optimistic. John Glover over at Ledn thinks this rally, even if bumpy, is just the start of Bitcoin's next big push towards new record highs, based on his "Elliott Wave" chart analysis. Buckle up!
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