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Bitcoin 
$104,031 has entered a new upward trend, surpassing the $102,000 mark with the start of the new week. According to reports, the largest cryptocurrency has begun a long-awaited price discovery process. Data from CoinGecko shows that Bitcoin is currently trading just 6% below its record high of $108,135, reached on December 17. The recent 10% increase in Bitcoin’s price has created a positive atmosphere across the cryptocurrency market.
Bitcoin Enters Its Strongest Period of the Year
Market analysts believe Bitcoin’s rise is linked to historical cycles following the 2024 block reward halving event. Renowned crypto analyst Daan Crypto Trades shared with his followers on the X platform, stating, “Bitcoin’s price discovery process is just beginning.” He emphasized that this year marks one of the strongest upward movements in the historical cycle.
CryptoQuant’s founder, Ki Young Ju, also expressed optimistic views on the market’s overall direction. Ju noted, “This Bitcoin bull cycle might be the longest cycle yet. New liquidity sources are steadily supporting the market, and more are on the way.” However, some experts approach this optimistic picture with caution. ITC founder Benjamin Cowen suggested that Bitcoin could reach $120,000 by January 20, while warning that the bull market might end in the first half of the year.
Analyst Rekt Capital stated that daily closes above $101,165 indicate a strong breakout for Bitcoin. He projected that 2025 would be the peak of the bull market, followed by a bear market in 2026 and a preparation year for a new cycle in 2027.
Current State of the Cryptocurrency Market
Bitcoin’s return to six-figure levels has pushed the total value of the cryptocurrency market to $3.74 trillion. However, Ethereum (ETH) 
$2,597 could not maintain momentum alongside the largest cryptocurrency. After briefly climbing above $3,700, ETH fell below that level again. In the altcoin market, limited gains were observed in coins like Tron (TRX), Avalanche (AVAX), and Hyperliquid (HYPE).
Investors are also evaluating Bitcoin’s current price levels. Renowned investor and Bitcoin educator Tone Vays announced, “After selling in November, I am completely back in Bitcoin,” revealing he made purchases at $100,000. Despite the overall positive sentiment, analysts recommend that investors exercise caution during this upward trend and closely monitor market movements.
