The worth of Bitcoin (BTC) stays just under $105,000 showing no indications of its next movement. While a breakout could spark bullish momentum and revive the joy around this crypto bull run, it’s also pertinent that market bulls resist further decline to certain price levels.

Bitcoin Must Hold Above $97,877 To Preserve Uptrend

Following a big price correction in December 2024, Bitcoin appears to have regained its bullish form in 2025 surging to even establish a latest all-time high of $109,114 as Donald Trump assumed office as US President. 

Currently, the flagship crypto asset trades below $105,000 following a series of great gains and losses during the last week. Amidst this market uncertainty, popular crypto analyst Ali Martinez has highlighted a price support level vital to sustaining Bitcoin’s current bullish structure.

In an X post on January 25, Martinez states that investors accrued over 101,000 BTC at $97,877, converting this price zone right into a key support level. Due to this fact, Bitcoin price must hold above this level to make sure a continuation of the present uptrend.

Notably, the buildup of a large volume of BTC at $97,877 indicates strong market confidence amongst investors. Converting this high market price into a possible price floor for Bitcoin suggests expectations of a chronic bullish phase and better profit levels. 

Interestingly, certain technical indicators also support this bullish sentiment. Based on Bitcoin’s each day trading chart, its Relative Strength Index sits at 60.83 indicating the premier cryptocurrency still has much room for growth before entering the overbought zone and experiencing a price reversal. 

Nonetheless, if BTC loses its support level at $97,877 as a result of overwhelming selling pressure, this price dip would signal a broader market retracement paving the way in which for a free fall to around $92,800 at which lies the following significant support zone.

BTC Investors Show Strong Demand With High CEX Outflows

In other news, blockchain analytics platform IntoTheBlock reports that centralized exchanges (CEX) have recorded $800 million in Bitcoin net outflows over the past week. 

This development suggests a high demand by BTC investors who’re acquiring and moving BTC to non-public wallets in anticipation of future gains. Importantly, a declining supply of BTC on exchanges reduces the potential of any significant selling pressure that may negatively impact prices.

At press time, Bitcoin exchanges hands at $104,805 reflecting a minor 0.15% decline prior to now day. Meanwhile, each day trading volume is down by 53.81% and valued at $25.5 billion. Despite these metrics, the Bitcoin community stays largely bullish in response to poll data from CoinMarketCap. With a market cap of $2.07 trillion, the maiden cryptocurrency retains 57.7% dominance of the entire digital asset market.