Bitcoin rebounded from its twelve-day low of just under $98,000 on Monday, reaching an intraday high of $103,100 during Tuesday’s morning trading session in Asia. The asset briefly dipped into five-digit territory before finding robust support to rally. Analyst Rekt Capital noted on January 28 that Bitcoin has completed its first price discovery uptrend and likely its initial price correction. They added that if historical patterns continue, Bitcoin could start its second price discovery uptrend towards new highs in the coming two weeks.
Bitcoin Price Discovery
Price discovery is a process where buyers and sellers determine an asset’s fair price. New territory is when Bitcoin moves higher, reaching new all-time highs. The analyst observed that in the 2017 cycle, by week 14, Bitcoin was recovering from its initial price correction and hit new highs by week 16. During the 2021 cycle, Bitcoin was bottoming out from its first correction by week 14, and also achieved new highs in week 16. Currently in the fourteenth week of the 2025 cycle, the implication is that, by mid-February, the second phase could commence, if historical trends persist. The analyst also mentioned that it’s still “relatively early on” in Bitcoin’s “parabolic phase” of this cycle, which typically lasts around 300 days on average. As of now, it is day 82 of this phase.
Meanwhile, the crypto community is reacting to American TV personality Jim Cramer’s remarks about Bitcoin. On CNBC’s Mad Money, Cramer stated, “You should own Bitcoin. Bitcoin is a great thing to have in your portfolio,” which sparked varied opinions due to his history of controversial and often changing views on Bitcoin.
Elsewhere in the crypto markets, the total market capitalization has slightly decreased to $3.65 trillion despite Bitcoin’s recovery, indicating that altcoins are still struggling. Ethereum fell to $3,036 before climbing back to $3,200, but it remains weak, having lost over 6% this month. Other altcoins began to recover Tuesday morning in Asia, with XRP reclaiming $3 and Solana nearing $240.
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