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Bitcoin (BTC) is showing promising signs of another breakout rally, with two key indicators suggesting the possibility of reaching new all-time highs in the near future. As of January 22, 2025, BTC is trading at $103,860.62, down by 0.56% from the previous close of $106,153.73 as of 9:06 AM EST. However, despite recent volatility, on-chain data reveals that Bitcoin’s price could surge once again due to increasing whale activity and a strengthening network.
One of the most notable developments is the growing activity among Bitcoin whales. These large market participants have been purchasing substantial amounts of BTC in recent days. Data from Santiment, shared by analyst Ali Martinez, indicates that over 22,000 BTC (worth more than $2.24 billion) were accumulated within a mere 72 hours. This surge in whale purchases has led to a decrease in available supply, potentially reducing selling pressure and setting the stage for a new price rally.
In addition to whale activity, Bitcoin’s overall network health is showing signs of improvement. The number of daily active addresses and whale transactions has been steadily increasing, signaling a stronger and more robust network. According to Martinez, this combination of rising whale participation and growing network activity could be a catalyst for potential price appreciation in the coming weeks.
Current Market Overview
- Current Price: $103,860.62
- Market Cap: $2.058 trillion
- 24-hour Volume: $67.97 billion
- 52-Week Range: $39,508.80 – $109,114.88
- Circulating Supply: 19.81 million BTC
- Volume (24hr): 67.97 billion USD
Disclaimer: This article is for informational purposes only and should not be construed as financial advice.