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Bitcoin reached $70,000. Next — $74,000 and higher?
On January 10, after a short consolidation, Bitcoin ($BTC) managed to secure a position above the psychological level of $70,000. Despite a mixed on-chain picture, analysts are showing some optimism about the short-term prospects of the coin.
Source: TradingView.
Earlier, Glassnode noted the first signs of stabilization as concerns about the conflict with Iran began to ease.
According to the experts, momentum indicators, ETF demand, and profitability metrics are improving, but the recovery is still at a “preliminary” stage, and price action does not yet have sufficient strength for a decisive bullish reversal.
Trading volume and network activity remain low, and capital flows are weak, indicating that “overall confidence has not yet fully recovered.”
Source: Glassnode.
Analysts at Santiment pointed to a “bias” toward short positions in perpetual contracts, based on funding rates.
The reasons include concerns about the situation in the Middle East and disappointment over the progress of the CLARITY Act.
Source: Santiment.
Return to $80,000?
At Matrixport, analysts noted the muted reaction of the leading cryptocurrency to the wave of risk-off sentiment caused by the surge in oil prices over the weekend — the price did not fall below the $66,000 support level.
According to specialists, there are grounds to expect a return of quotations to the previous $70,000–$80,000 range, “amid the gradual decline in the impact of events around Iran on the behavior of risk assets.”
MN Trading founder Michaël van de Poppe shares a similar view. The expert predicted a move to $74,000–$76,500 if the price holds above $65,000.
Source: Michaël van de Poppe.
Trader Peter Brandt pointed to prerequisites for the development of an upward corrective move, with new local highs within a broader bearish trend during 2026.
Source: Peter Brandt.
See also: "XRP holders recorded $50 billion in unrealized losses amid activity from large investors"
