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Bitcoin Surges Past $105K, Analysts Predict New All-Time High

Coin WorldThursday, Jan 30, 2025 7:51 am ET

1min read

Bitcoin (BTC) surged past $105,000 on January 30, 2025, with analysts predicting a potential new all-time high in the coming weeks. Michaël van de Poppe, a crypto analyst, celebrated the milestone and suggested that a new record could be on the horizon. Pentoshi, another analyst, echoed this sentiment, highlighting Bitcoin's resilience amidst broader market weakness.

Meanwhile, the crypto market witnessed a significant increase in mobile wallet users and stablecoin adoption, signaling growing engagement and mainstream acceptance. According to Coinbase's Q1 2025 market report, mobile wallets are crucial in driving increased interaction with digital assets, with users actively participating in DeFi, NFTs, and other blockchain-based services. Stablecoin supply rose by 18% in Q4 2024, nearing $200 billion, while trading volume surged to $30 trillion.

JPMorgan analysts found that Bitcoin has the highest correlation with small-cap tech stocks, particularly the Russell 2000 tech sector. This correlation tends to peak during strong tech market performance or sell-offs, indicating a strong link between the crypto and equity markets. The analysts attributed this correlation to the reliance of cryptocurrencies on venture capital and the focus of blockchain/crypto innovation on smaller rather than larger tech companies.

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