Bitcoin has made headlines once again as its price surged above $97,000 on January 14, marking its highest level since November. According to the official information, this significant increase has prompted analysts to reassess the cryptocurrency's market dynamics and potential future trends.
Bitcoin's Price Candle Patterns
Analyst Egrag Crypto has pointed out that Bitcoin's yearly price candles have historically followed a predictable sequence. However, the current cycle from 2023 to 2025 is showing a deviation from the norm, with the expected pattern of Green, Green, Green, Red now shifting to Green, Green, Red. Egrag estimates a 55 to 65 percent probability that 2026 will conclude with a green candle, interpreting the anticipated red candle in 2025 as a necessary cooling phase for the market.
Bitcoin's Market Dominance
In addition to the price surge, Bitcoin's market dominance has also seen a notable increase, rising above 57%. This uptick in market share underscores Bitcoin's resilience and strength in comparison to other altcoins, further solidifying its position as the leading cryptocurrency in the market.
In a significant move, Strategy has recently acquired approximately 13,600 Bitcoin for over $12 billion, marking its largest purchase in five months. This acquisition highlights the company's confidence in the cryptocurrency market, contrasting with Bitcoin's recent price surge. For more details, see Strategy's Acquisition.
