BTC price tops $101K as MicroStrategy makes first Bitcoin buy of 2025

Bitcoin ( BTC ) punched through $100,000 at the Jan. 6 Wall Street open as bulls cleared liquidity for a return to six figures.

BTC/USD 1-hour chart. Source: TradingView

BTC price needs daily close above $101,000

Data from Cointelegraph Markets Pro and TradingView showed a snap spike taking BTC/USD to nearly $101,506 on Bitstamp.

Bitcoin thus began the first full TradFi trading week of 2025 at its highest levels since Dec. 19. 

The move followed a fresh buy announcement from business intelligence firm MicroStrategy, which added another 1,070 BTC to its corporate treasury.

Among the casualties was what popular trader Skew described as a “passive seller” on Binance, the owner of significant ask liquidity at the $100,000 mark.

“New bids moving up here which is important for the support of rallies,” he reported in part of his latest analysis on X.

BTC/USDT 30-minute chart. Source: Skew/X

Data from monitoring resource CoinGlass clearly highlighted the liquidity sweep, with 24-hour BTC short liquidations at $36 million at the time of writing.

BTC liquidation heatmap (screenshot). Source: CoinGlass

Continuing, popular trader and analyst Rekt Capital acknowledged that for Bitcoin to have a chance at reentering price discovery, it required a daily close at still higher levels.

“On the Daily timeframe, Bitcoin is located inside a $91000-$101000 range,” he told X followers.

“Bitcoin will need to Daily Close and/or retest the $101k Range High to breakout, just like in early December 2024.”

BTC/USD 1-day chart. Source: Rekt Capital/X

Another post elaborated on the technical significance of $101,000.

“Every time BTC has rallied to $101k, it would overextend to at least $103k,” he wrote alongside illustrative charts.

“Generally, $101k is the resistance to reclaim as support because it is confluent with the old technical uptrend (orange).”

BTC/USD 1-week chart. Source: Rekt Capital/X

Bitcoin funding rate avoids overheating

Considering what macroeconomic catalysts may impact BTC price performance, trading firm QCP Capital noted that the inauguration of US President-elect Donald Trump was still two weeks away.

Related: Back to $76K for 2025? 5 things to know in Bitcoin this week

“Unlike previously, it’s also quite unlikely we get any Trump-related catalysts till after his 20-Jan inauguration. Frontend vols have also remained soft with a relatively neutral skew which indicate a similar sentiment,” it wrote in its latest bulletin to Telegram channel subscribers on the day.

Crypto funding rate heatmap (screenshot). Source: CoinGlass

QCP added that funding rates remained significantly lower than when BTC’s price first broke the $100,000 barrier in early December.

“With no crypto-specific catalysts on the horizon, focus will be on the first US jobs report of the year this Friday (10-Jan),” it concluded.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.