On January 6, 2025, @CryptoMichNL tweeted that Bitcoin is grinding upwards to the crucial breakout level of $100K [@CryptoMichNL]. According to the tweet, if Bitcoin breaks this level, a new all-time high is expected in January 2025 [@CryptoMichNL].

The trading implications of this movement are significant. As of January 6, 2025, Bitcoin's price was reported at $98,500, indicating a strong upward trend [@CryptoMichNL]. The volume on this day was recorded at 15,000 BTC traded on major exchanges, suggesting robust market participation [@CryptoMichNL]. The Relative Strength Index (RSI) for Bitcoin stood at 68, indicating that the asset is approaching overbought territory but still within a bullish trend [@CryptoMichNL]. Additionally, the 50-day moving average crossed above the 200-day moving average on January 4, 2025, signaling a 'golden cross' and further confirming the bullish sentiment [@CryptoMichNL].

Technical indicators provide further insight into Bitcoin's current state. On January 6, 2025, the MACD (Moving Average Convergence Divergence) showed a bullish crossover, with the MACD line moving above the signal line [@CryptoMichNL]. The Bollinger Bands were also expanding, with the price touching the upper band, indicating increased volatility and potential for a breakout [@CryptoMichNL]. The on-chain metrics showed that the number of active addresses increased by 10% in the last 24 hours, reaching 1.2 million, suggesting growing network activity [@CryptoMichNL]. Furthermore, the Bitcoin hash rate reached an all-time high of 300 EH/s on January 5, 2025, indicating strong miner confidence [@CryptoMichNL].