Bitcoin, the leading cryptocurrency, has once again captured the spotlight after rallying to a new all-time high of $109,699. 

With the $110,000 milestone in sight, Bitcoin’s recent price action is being closely monitored by investors. A combination of sustained market conditions and renewed institutional interest has positioned the crypto king for potentially historic gains. 

Bitcoin Investors Are Bullish

Market sentiment has shown a significant shift in recent weeks, particularly through the lens of Coin Days Destroyed (CDD). Late 2024 saw a period of elevated CDD, signaling heavy activity among Bitcoin long-term holders (LTHs) cashing out during the rally. 

However, January has brought a notable cooldown in CDD, indicating reduced selling pressure from these key investors. This trend suggests that most profit-taking among LTHs is complete, paving the way for a more stable price trajectory.

Low CDD is often interpreted as a positive sign for Bitcoin’s recovery. It reflects conviction among long-term investors, who are holding onto their coins rather than selling into the market. Such investor behavior typically builds confidence and supports upward price momentum, providing a favorable backdrop for Bitcoin’s push to $110,000 and beyond.

Bitcoin’s macro momentum has also gained strength, supported by the accumulation activity of smaller investors, often referred to as “Shrimps” and “Crabs.” These holders, who possess less than 10 BTC, collectively added over 25,600 BTC worth approximately $2.71 billion. This surge in accumulation is proof of growing confidence among retail investors.

The Shrimp-to-Crab balance spike indicates a broad base of support for Bitcoin’s price. This demographic’s increasing participation reflects long-term bullish sentiment. Their buying activity often stabilizes the market, acting as a cushion during corrections and amplifying price rallies during bullish phases.

BTC Price Prediction: Onto New High

Bitcoin’s recent all-time high of $109,699 was fueled by strong market fundamentals and strong investor sentiment. If momentum continues, the cryptocurrency could breach the $110,000 mark, cementing its position as a high-performing asset in 2025. This milestone would likely attract additional buying interest, reinforcing Bitcoin’s bullish outlook.

To secure its ascent, Bitcoin must establish $105,000 as a strong support level. Currently trading around $105,562, the crypto king appears well-positioned to achieve this. A successful defense of this support zone could propel Bitcoin to new highs, unlocking further upside potential.

However, failure to maintain $105,000 as support could lead to a retracement toward $100,000. Such a decline would negate Bitcoin’s recent gains and dampen short-term bullish sentiment, raising the risk of prolonged consolidation before a renewed rally.

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In a press conference on January 21, US President Donald Trump responded to questions about his meme coin, TRUMP, admitting that he had limited knowledge of the token despite its market success.

His comments led to a brief dip in the token’s price, which subsequently rebounded.

Donald Trump Talks TRUMP Coin: Price Fluctuates

Speaking from the White House, Trump responded to inquiries about whether he was personally benefiting from the token, stating that he was unsure if he had profited from it.

The conference primarily focused on the announcement of a $500 billion investment in the “Stargate AI” artificial intelligence infrastructure project. President Trump was joined by OpenAI CEO Sam Altman, Oracle’s Chief Technology Officer Larry Ellison, and SoftBank CEO Masayoshi Son.

When asked about TRUMP, the President appeared uncertain about its details. 

“I don’t know where it is. I don’t know much about it other than I launched it, other than it was very successful,” Trump said.

Following his remarks, the token’s value briefly plummeted, prompting reactions from the financial community. Alex Krüger, founder of Aike Capital, highlighted the decline on social media platform X (formerly Twitter).

Bloomberg analyst James Seyffart also weighed in.

“Trump just nuked his own memecoin, Seyffart noted on X.

Despite the temporary setback, TRUMP quickly rebounded. At the time of reporting, it was trading at $41.24, reflecting a 15% increase in the past 24 hours.

The meme coin’s market capitalization stood at $8.24 billion. This marked a notable increase as the token’s market cap dropped to $7.5 billion after inauguration day.

When informed that his token generated billions, Trump remarked, “Several billion … that’s peanuts for these guys,” gesturing toward the CEOs accompanying him.

The “Official Trump” token, launched last week, experienced a rapid surge of over 1,100%, rising from $6 to $75 within 36 hours. However, the ownership stake remains unclear, with two entities tied to the Trump Organization controlling 80% of the supply. 

Notably, the latest Forbes analysis debunked claims of a $58 billion windfall for Trump. The analysis highlighted that these estimates were based on the token’s fully diluted valuation, which factors in non-circulating tokens. With 800 million tokens locked, an 80% stake is estimated at $6.2 billion, though this figure is subject to market fluctuations.

Despite the volatility, the broader market has shown significant interest in meme coins. As BeInCrypto reported earlier, Rex Shares recently filed for meme coin exchange-traded funds (ETFs) that include TRUMP, BONK, and DOGE.

Meanwhile, meme coins stay true to their volatile nature, with TRUMP not being the only one experiencing sharp fluctuations. First Lady Melania Trump’s meme coin, MELANIA, hit an all-time high of $13 on January 20 but later dropped to around $4.