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As of January 16, 2025, Bitcoin (BTC) is trading at approximately $99,497, reflecting a 2.72% increase over the previous close. Over the past 24 hours, Bitcoin's price ranged between $96,497 and $100,725, with a trading volume of around $55.8 billion, indicating sustained market activity. The current market capitalization is approximately $1.98 trillion, based on a circulating supply of 19.81 million BTC tokens. $BTC $BITCOIN

As of January 16, 2025, Bitcoin (BTC) is trading at approximately $99,497, reflecting a 2.72% increase over the previous close. Over the past 24 hours, Bitcoin's price ranged between $96,497 and $100,725, with a trading volume of around $55.8 billion, indicating sustained market activity. The current market capitalization is approximately $1.98 trillion, based on a circulating supply of 19.81 million BTC tokens. $BTC $BITCOIN

The AI Prophecy (ACT) Gains Momentum Ahead Of Key Breakout: Is An Upside Move Ahead? In the first week of the new year, the cryptocurrency market is experiencing upside rallies in major altcoins as Bitcoin (BTC) dominance marks a significant decline from its December 31 level of 58.12% to today’s 56.89%. This shift has provided a favorable rebound for The AI Prophecy (ACT), which is building momentum with an impressive rally of over 25% today and a 45% weekly surge. Technical Analysis: Falling Wedge Pattern The chart shows that ACT has been trading within a falling wedge pattern on the daily timeframe, a classic bullish setup. This week’s price surge has propelled ACT from the lower wedge support of $0.26 to its current price of $0.40, which is near the upper wedge resistance and aligns with a critical horizontal resistance zone. If ACT manages to break through this resistance trendline, along with the horizontal resistance zone at approximately above of $0.43, it could potentially target its next resistance levels at $0.66, $0.81, and $0.95. A successful breakout could yield a potential 132% gain from the current price. Indicators Signal Potential Breakout The MACD (Moving Average Convergence Divergence) indicator is signaling a bullish crossover, reflecting increasing momentum. Similarly, the RSI (Relative Strength Index) is climbing above 50, indicating growing buying pressure and the potential for further upward movement.$ACT

Bitcoin (BTC), the world’s leading cryptocurrency, surged past the $99,000 mark on Wednesday, fueled by escalating inflation concerns in the United States and a strong market reaction to recent macroeconomic data.Notably, earlier in the day, the U.S. Bureau of Labor Statistics reported a 0.4% increase in consumer prices for December 2024, bringing the annual Consumer Price Index (CPI) to 2.9%. Core inflation, which excludes volatile food and energy prices, rose by 3.2% year-over-year and 0.2% on a monthly basis, matching analysts’ forecasts. Meanwhile, prices for services, excluding housing and energy, saw a 0.3% uptick, contributing to concerns about persistent inflationary pressures.Analysts attributed the strength in equities and cryptocurrencies to declining Treasury yields and a weakening U.S. dollar, which often encourage risk-on sentiment among investors. Notably, December saw the Federal Reserve lower its benchmark rate by 25 basis points to 4.25%-4.50%, contributing to increased liquidity and renewed investor interest in cryptocurrencies. With 97.3% of traders expecting no further rate hikes this month, according to CME FedWatch data, the crypto market is poised to maintain its upward momentum.“In the case of inflation, good news is actually good news, unlike the labor market, where good news often spells trouble for the market,” tweeted popular crypto analyst Benjamin Cohen. “As a result, Bitcoin has surged close to $100k, and the 10-year yield is taking a breather.”Notably, Bitcoin’s price responded sharply to the data, surging from $96,600 to nearly $100,000 within hours. This rally marked an impressive recovery, as Bitcoin had dipped as low as $89,600 earlier in the week on Monday.The crypto market rally extended beyond Bitcoin, with Ethereum gaining 4.17% to surpass $3,450 in the past 24 hours. XRP led the charge, surging 10.80% and briefly testing the $3 mark for the first time since 2018 before settling at $2.94. During the surge, Ripple’s market cap broke into the top 100 global assets, climbing 19 spots in just 24 hours to rank 99th with a valuation of $169.3 billion, according to 8Marketcap data.Looking ahead, analysts predict further gains for Bitcoin. CryptoQuant analyst “Crypto Dan” highlighted that aggressive short-term trading may not be ideal in the current market phase, noting that the bull market was still at play. “The upward cycle is still ongoing,” he noted. “Bitcoin has rebounded to nearly $97,000, and the short-term SOPR data reveals corrections indicating profit-taking by major whales, which often prolongs corrections. However, the current profit-taking volume is significantly smaller than March, suggesting this correction will likely be shorter.”At press time, BTC was trading at $99,797, reflecting a 3.90% surge in the past 24 hours.$BTC $BITCOIN