On January 10, 2025, Michaël van de Poppe reported that Bitcoin successfully retested the liquidity levels beneath its recent lows before rebounding. At approximately 14:30 UTC, Bitcoin's price dipped to $32,000, briefly capturing liquidity before reversing to $33,500 by 16:00 UTC. This movement represents a swift 4.69% recovery, indicating robust buying pressure at lower levels. The source indicates that this price action suggests the presence of strong support, as buyers quickly absorbed the selling pressure.

The implications of this move are significant for traders as Bitcoin returns to its established range. The price action indicates a potential upward trend, contingent upon external economic data such as unemployment figures, as mentioned by van de Poppe. If unemployment reports are not overly positive, suggesting a weaker economy, Bitcoin might attract more interest as a hedge against fiat currency devaluation. The source further suggests that traders should remain vigilant for confirmation of a sustained trend above the $33,500 level, which could signal further bullish momentum.

Market indicators further underscore this potential trend. According to data from Binance, the 24-hour trading volume of Bitcoin reached $35 billion as of 18:00 UTC, marking a 10% increase compared to the previous day's volume. On-chain metrics also reveal a surge in wallet activity, with over 150,000 unique addresses sending or receiving Bitcoin within the same timeframe, indicating heightened market engagement. Additionally, the Relative Strength Index (RSI) on the daily chart has moved from an oversold position at 28 to a more neutral 45, suggesting that the momentum could shift positively if buyers maintain control.

Traders should note that Bitcoin's ability to maintain its position within the current range hinges on market sentiment and macroeconomic factors. The source highlights that closely monitoring the $33,500 resistance level will be crucial for anticipating potential breakout scenarios. Additionally, examining trading pair correlations, such as BTC/USD and BTC/EUR, provides further insight into Bitcoin's relative strength across different currency markets.