bullish

FOMO

Bitcoin

Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="noopener noreferrer nofollow" target="null" text="null" title="null">BTC</a>) reached a crucial breakout level on Jan. 30 as BTC price action <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-leaving-crypto-2025-despite-altseason-calls" rel="noopener noreferrer nofollow" target="_self" text="null" title="https://cointelegraph.com/news/bitcoin-leaving-crypto-2025-despite-altseason-calls">left altcoins in the dust</a>.
<figure><img alt="Forget FOMC — Bitcoin price now has 'plenty of room' to reach $108K" src="https://s3.cointelegraph.com/uploads/2025-01/0194b64a-c390-72a5-8947-4bbf7ef59a69" title="">
 <figcaption style="text-align: center;">
 BTC/USD 1-hour chart. Source: Cointelegraph/TradingView
 </figcaption>
</figure>
<h2 id="btc-price-action-shrugs-off-hawkish-fomc-deepseek">BTC price action shrugs off hawkish FOMC, DeepSeek</h2>
Data from <a data-ct-non-breakable="null" href="https://subscription.cointelegraph.com/?_gl=1*7499wx*_ga*MTQ0MzQ0NzI4Ny4xNzE2MzY1NTA0*_ga_53R24TEEB1*MTcxNjM2NTUwNC4xLjEuMTcxNjM2Njg2MC4wLjAuMA.." rel="noopener noreferrer nofollow" target="null" text="null" title="null">Cointelegraph Markets Pro</a> and <a data-ct-non-breakable="null" href="https://www.tradingview.com/symbols/BTCUSD/?exchange=BINANCE" rel="noopener noreferrer nofollow" target="null" text="null" title="null">TradingView</a> showed BTC/USD hitting $105,563 on Bitstamp, a six-day high.
Erasing the <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/deepseek-rout-bulls-100k-5-things-bitcoin-this-week" rel="noopener noreferrer nofollow" target="null" text="null" title="null">entire DeepSeek dip</a>, Bitcoin made market participants once again hopeful of new all-time highs.
“Bitcoin structure looks flawless. It really does, from LTFs to HTFs, it really looks like it wants higher,” popular trader Castillo Trading <a data-ct-non-breakable="null" href="https://x.com/CastilloTrading/status/18846298026339042697" rel="noopener noreferrer nofollow" target="null" text="null" title="null">wrote</a> in part of a post on X.
Castillo Trading noted diverging behavior between BTC and altcoins, with the latter failing to follow its lead.
Data from <a data-ct-non-breakable="null" href="https://coinmarketcap.com/" rel="noopener noreferrer nofollow" target="null" text="null" title="null">CoinMarketCap</a> confirmed that over the past seven days, Bitcoin was the only net gainer in the 15 largest cryptocurrencies by market cap, up 2.3%.
“$BTC held up well with all the turmoil, while the rest of the market had weakness,” fellow trader Pentoshi <a data-ct-non-breakable="null" href="https://x.com/Pentosh1/status/1884769647381094409" rel="noopener noreferrer nofollow" target="null" text="null" title="null">agreed</a>.&nbsp;
<blockquote>
 “Don't see any reason we don't get new highs soon on this at the very least. Also above the middle of the current range and acting as support.”
</blockquote>
<figure><img alt="Forget FOMC — Bitcoin price now has 'plenty of room' to reach $108K" src="https://s3.cointelegraph.com/uploads/2025-01/0194b646-f29a-7122-a3eb-2147193696be" title="">
 <figcaption style="text-align: center;">
 BTC/USDT 4-hour chart. Source: Pentoshi/X
 </figcaption>
</figure>
Crypto trader, analyst and entrepreneur Michaël van de Poppe <a data-ct-non-breakable="null" href="https://x.com/CryptoMichNL/status/1884870626982146477" rel="noopener noreferrer nofollow" target="null" text="null" title="null">predicted</a> that BTC price discovery could return “in the coming weeks,” offering February as a <a data-ct-non-breakable="null" href="https://x.com/CryptoMichNL/status/1884722186469986813" rel="noopener noreferrer nofollow" target="null" text="null" title="null">potential target</a>.
<figure><img alt="Forget FOMC — Bitcoin price now has 'plenty of room' to reach $108K" src="https://s3.cointelegraph.com/uploads/2025-01/0194b646-7048-74a6-95a0-57bbf80e5737" title="">
 <figcaption style="text-align: center;">
 BTC/USD 1-day chart. Source: Michaël van de Poppe/X
 </figcaption>
</figure>
<h2 id="btc-price-bullish-divergences-playing-out-nicely">BTC price bullish divergences “playing out nicely”</h2>
Bitcoin’s reaction to new macroeconomic uncertainty came as something of a surprise.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-far-from-extreme-fomo-at-100k-btc-price-research" rel="noopener noreferrer nofollow" target="null" text="null" title="Bitcoin far from 'extreme' FOMO at above $100K BTC price — Research">Bitcoin far from 'extreme' FOMO at above $100K BTC price — Research</a>
At the <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-sellers-wait-104k-fed-trump-rates-fomc" rel="noopener noreferrer nofollow" target="null" text="null" title="null">latest meeting</a> of the Federal Open Market Committee, or FOMC, the US Federal Reserve chose not to cut interest rates, signaling an <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-rallies-to-104-7-k-after-fed-fomc-nothing-burger-lines-up-with-market-expectations" rel="noopener noreferrer nofollow" target="null" text="null" title="null">ongoing hawkish stance</a> in an anticipated blow to crypto and risk assets.
After an initial drop, however, BTC/USD staged a quick rebound and held higher, even as markets priced in <a data-ct-non-breakable="null" href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html" rel="noopener noreferrer nofollow" target="null" text="null" title="null">tighter financial conditions</a> through the end of 2025.
<figure><img alt="Forget FOMC — Bitcoin price now has 'plenty of room' to reach $108K" src="https://s3.cointelegraph.com/uploads/2025-01/0194b647-79cd-75d1-8efe-f9f2c303a43c" title="">
 <figcaption style="text-align: center;">
 Fed target rate probability data (screenshot). Source: CME Group FedWatch Tool
 </figcaption>
</figure>
“Last weeks lows raided &amp; market bid liquidity taken,” popular trader Skew <a data-ct-non-breakable="null" href="https://x.com/52kskew/status/1884705276823298299" rel="noopener noreferrer nofollow" target="null" text="null" title="null">summarized</a> about BTC price action around the event.
<blockquote>
 “Confirmation of market strength would be price recovery back above $105K with momentum.”
</blockquote>
<figure><img alt="Forget FOMC — Bitcoin price now has 'plenty of room' to reach $108K" src="https://s3.cointelegraph.com/uploads/2025-01/0194b644-60dc-7479-bdf3-5579caf64ebb" title="">
 <figcaption style="text-align: center;">
 BTC/USDT 4-hour chart. Source: Skew/X
 </figcaption>
</figure>
The move higher ate through sell-side liquidity just below $104,000, with data from monitoring resource <a data-ct-non-breakable="null" href="https://www.coinglass.com/pro/futures/LiquidationHeatMapNew" rel="noopener noreferrer nofollow" target="null" text="null" title="null">CoinGlass</a> showing new liquidation zones appeared closer to $107,000.
<figure><img alt="Forget FOMC — Bitcoin price now has 'plenty of room' to reach $108K" src="https://s3.cointelegraph.com/uploads/2025-01/0194b648-deb6-7013-974e-44aed4af1acb" title="">
 <figcaption style="text-align: center;">
 BTC liquidation heatmap (screenshot). Source: CoinGlass
 </figcaption>
</figure>
“Really like what I’m seeing here as I’ve been bullish this entire range,” trader Roman <a data-ct-non-breakable="null" href="https://x.com/Pentosh1/status/1884769647381094409" rel="noopener noreferrer nofollow" target="null" text="null" title="null">continued</a>, referring to popular leading BTC price metrics.&nbsp;
<blockquote>
 “Stoch &amp; RSI have plenty of room to break 108 resistance and head higher. We also have bull divs playing out nicely.”
</blockquote>
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.

Forget FOMC — Bitcoin price now has 'plenty of room' to reach $108K

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