Bitcoin starts the new year with undeniable momentum. On January 4, 2025, the world’s largest cryptocurrency trades firmly above $98,000, reaching a new weekly high and reinforcing the bullish narrative that has gripped the market since late 2024. With institutional inflows accelerating through spot ETFs, corporate treasuries expanding their BTC holdings, and major asset managers issuing increasingly ambitious price targets, the first week of 2025 sends a clear signal: Bitcoin’s bull run is far from over.
TL;DR
- Bitcoin hits a new weekly high of $98,236 on January 4, 2025, with a market cap of $1.95 trillion
- Bitwise Asset Management predicts BTC will reach $200,000 in 2025, a 106% gain from current levels
- Spot Bitcoin ETF cumulative net inflows reach $35.66 billion as of January 3
- Hyperscale Data increases its Bitcoin reserves by 16% to 524.7 BTC
- Bitwise expects the number of countries holding BTC reserves to double this year
Bitcoin Consolidates Above $98,000
Bitcoin trades at $98,236 on January 4, 2025, according to CoinMarketCap’s historical snapshot. The price represents a modest 0.13% gain over the previous 24 hours and a more meaningful 3.23% increase over the past seven days. The cryptocurrency’s 24-hour trading volume stands at approximately $22.3 billion, demonstrating robust liquidity and sustained market participation.
The price action above $98,000 is noteworthy for its stability. After briefly dipping to approximately $97,680 during intraday trading, buyers quickly stepped in to reclaim the $98,000 level. This dip-buying behavior has become a hallmark of the current market cycle, with participants treating every pullback as an opportunity to accumulate rather than a signal to exit.
Bitcoin’s market capitalization now sits at approximately $1.95 trillion, maintaining its position as the fifth-largest asset in the world by market cap. The cryptocurrency’s dominance across the broader digital asset market holds at 58.71%, underscoring its continued role as the anchor of the crypto ecosystem.
Bitwise Sets $200,000 Price Target
Digital asset investment manager Bitwise unveils an ambitious set of predictions for 2025, with Bitcoin taking center stage. Ryan Rasmussen, Bitwise’s head of research, projects that Bitcoin will surge 106% from its current level to reach $200,000 this year. The prediction is grounded in several converging catalysts: accelerating ETF inflows, favorable regulatory developments under the incoming Trump administration, and growing sovereign interest in Bitcoin as a reserve asset.
Bitwise also expects Ethereum to rally approximately 99% to reach $7,000 and Solana to skyrocket 250% to $750 in 2025. At the time of the announcement, BTC trades near $97,000, ETH sits at approximately $3,521, and SOL changes hands at around $214.
The Bitwise outlook is particularly significant given the firm’s position as one of the leading issuers of spot Bitcoin ETFs in the United States. Their predictions carry weight not just as market commentary but as informed projections from a firm with deep visibility into institutional capital flows.
Spot Bitcoin ETFs Continue to Attract Billions
The U.S. spot Bitcoin ETF market enters 2025 with impressive momentum. Cumulative total net inflows into spot Bitcoin ETFs reach approximately $35.66 billion as of January 3, 2025, according to SoSoValue data cited by Bitwise. The firm expects these inflows to accelerate further in 2025, potentially surpassing the record pace established during the ETFs’ inaugural year in 2024.
The sustained demand for spot Bitcoin ETFs represents a structural shift in how institutional investors gain exposure to Bitcoin. Financial advisors, pension funds, and family offices that previously sat on the sidelines are now allocating capital through these regulated vehicles. Each week brings new records and new participants, creating a steady upward pressure on Bitcoin’s price.
The ETF narrative is reinforced by the broader trend of traditional finance embracing Bitcoin. Major banks and asset managers that once dismissed cryptocurrency are now building products and services around it, further legitimizing Bitcoin as an investable asset class.
Corporate and Sovereign Adoption Expands
Corporate Bitcoin adoption shows no signs of slowing. Hyperscale Data adds 72.7 Bitcoin to its corporate treasury, bringing total holdings to 524.7 BTC as of January 4, 2025 — a 16% increase. The move reflects a growing trend of public companies viewing Bitcoin as a legitimate treasury reserve asset capable of preserving purchasing power and generating long-term returns.
At the sovereign level, Bitwise predicts that the number of countries holding Bitcoin in their national reserves will double in 2025. This forecast aligns with the pro-crypto stance of the incoming U.S. administration and growing interest from nations in Central America, the Middle East, and Asia. If even a handful of additional countries add Bitcoin to their sovereign wealth funds or central bank reserves, the demand impact could be substantial.
Market Structure Remains Bullish
From a technical perspective, Bitcoin’s market structure remains firmly bullish. The cryptocurrency has established a series of higher lows and higher highs since breaking above $70,000 in late 2024. The ADX indicator, a measure of trend strength, reads 27.3 as of early January, indicating a strong ongoing uptrend. The positive directional indicator (+DI) remains above the negative directional indicator (-DI), confirming that buyers maintain control of the market.
Trading volumes remain healthy, and funding rates in the perpetual futures market suggest that leveraged longs are not yet overstretched — a condition that often precedes sharp corrections. In other words, the rally appears to be built on genuine spot buying and institutional accumulation rather than speculative leverage.
Why This Matters
Bitcoin’s performance in the opening days of 2025 confirms what many market observers have been projecting: this cycle is fundamentally different from previous ones. The combination of spot ETFs providing a regulated on-ramp for trillions in institutional capital, a pro-crypto U.S. administration preparing to take office, and growing corporate and sovereign adoption creates a convergence of bullish catalysts that has no historical precedent. At $98,000, Bitcoin is not just holding its ground — it is building a launchpad for what could be a defining year in the asset’s history.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry significant risk. Always conduct your own research before making investment decisions.
Ryan Rasmussen calling 200k is bold but his track record from last year was solid. guy does his homework
Hyperscale Data adding 16% to their reserves is the quiet bull signal here. corporates keep stacking and nobody notices
524.7 BTC is what, like 50 million? that is a rounding error for a public company. expect way more treasury allocations this year
countries doubling their BTC reserves sounds great on paper. which countries though? El Salvador already in. who is next?
106% gain from 98k puts us at 200k. the math checks out but so did every 100k prediction in 2021 and we know how that ended