On January 6, 2025, Bitcoin broke through a crucial resistance zone, as reported by Michaël van de Poppe (@CryptoMichNL). The cryptocurrency was trading at $100,250 at 10:00 AM UTC, marking the highest point since its last peak in November 2024 (@CryptoMichNL). This breakout is significant as it indicates a potential shift in market sentiment towards a bullish trend, aiming to hold above $100K and set a new all-time high.

The trading implications of this breakout are profound. The volume at the time of the breakout was approximately 25,000 BTC traded in the last hour, suggesting strong market participation (@TradingView). The BTC/USD pair saw an immediate 2% increase post-breakout, while the BTC/EUR pair also experienced a similar uptick of 1.9% (@Coinbase). On-chain metrics further support this bullish sentiment, with the number of active addresses increasing by 10% over the past 24 hours, reaching 1.2 million active addresses (@Glassnode). This indicates heightened interest and activity in the Bitcoin network.

Technical indicators also confirm the bullish momentum. The Relative Strength Index (RSI) for Bitcoin was at 72 at the time of the breakout, indicating overbought conditions but still within a bullish range (@TradingView). The Moving Average Convergence Divergence (MACD) showed a bullish crossover on January 5, 2025, further supporting the upward trend (@TradingView). Additionally, the market depth for Bitcoin showed a significant increase in buy orders at the $100K level, with over $500 million in buy orders waiting to be executed (@Binance). This suggests strong support at this level and potential for further upward movement.