bitcoin rf gty ml 241205 1733416428454 hpmain 16x9 1600

According to technical analyst Ali Martinez, Bitcoin needs to overcome only minor resistance at $104,700–$105,770—where a “supply wall” of 107,000 BTC is concentrated—before heading toward new all-time highs.

#Bitcoin sits well above an important support zone between $95,400 and $98,400, where 1.77 million addresses bought over 1.53 million $BTC. However, there isn't significant resistance ahead, only a minimal supply wall of 107,000 #BTC between $104,700 and $105,770. pic.twitter.com/MEATFegTV2
— Ali (@ali_charts) January 7, 2025

Martinez noted that the leading cryptocurrency is currently well above a significant support zone at $95,400–$98,400, where 1.77 million addresses acquired over 1.53 million BTC.

Michaël van de Poppe, founder of MN Trading, shares a similar view:

#Bitcoin made a great start of the year as we're above $100,000.

I'd like to see $98,000 hold. If that holds, then I'm expecting a new ATH to come. pic.twitter.com/WrNUFlU4sF
— Michaël van de Poppe (@CryptoMichNL) January 7, 2025

“I’d like to see the $100,000 level hold. In that scenario, I’d expect new all-time highs,” he wrote.

Financing Rates Drop Sharply

Analysts at Glassnode observe a steep decline in the 7-day moving average of funding rates—from a mid-December peak of 0.026% down to neutral territory below 0.01%.

📉 After peaking at 0.026% in mid-December, the weekly MA of perpetual funding rates has cooled to 0.009% – just below the neutral 0.01%: https://t.co/CORjRx0X2k

🔍 This suggests a cautious positioning, with speculators showing limited willingness to pay premiums for long… pic.twitter.com/JwSPpZRpeG
— glassnode (@glassnode) January 7, 2025

“This indicates cautious positioning, as speculators show limited willingness to pay premiums for long positions,” they emphasized.
Experts add that, on most exchanges, appetite for leveraged longs remains subdued.

Earlier, Martinez stressed that there is currently no reason to talk about a new bear phase in the Bitcoin market.