On January 6, 2025, Bitcoin broke through a crucial resistance zone, as reported by @CryptoMichNL. This breakthrough occurred with Bitcoin trading at $98,500 at 10:00 AM UTC, marking a significant shift in market dynamics. The resistance zone, previously identified at $97,500 to $98,000, had been a formidable barrier for Bitcoin's price since late December 2024 [@CryptoMichNL].

The trading implications of this event are substantial. Following the break, Bitcoin's price surged to $99,200 by 12:00 PM UTC, indicating strong buying pressure and potential for further gains [@CryptoMichNL]. The trading volume on major exchanges like Binance and Coinbase increased by 25% within the hour of the breakout, reaching 45,000 BTC traded [@CoinMarketCap]. This surge in volume suggests a robust market confidence in Bitcoin's upward trajectory. Additionally, the BTC/USD pair showed a 2.5% increase in trading volume compared to the previous day, while the BTC/EUR pair saw a similar 2.3% rise [@TradingView].

Technical indicators further support the bullish sentiment. The Relative Strength Index (RSI) for Bitcoin was at 68 at the time of the breakout, indicating that the asset was not yet overbought and had room for further upward movement [@TradingView]. The Moving Average Convergence Divergence (MACD) also showed a bullish crossover at 11:00 AM UTC, reinforcing the positive momentum [@TradingView]. On-chain metrics revealed that the number of active addresses increased by 10% over the last 24 hours, suggesting heightened market participation [@Glassnode]. The market depth on major exchanges also showed increased buy orders at higher price levels, indicating strong demand [@CoinbasePro].