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Today, the crypto market continued its strong momentum since the beginning of the year. Bitcoin demonstrated robust support after reclaiming the 90,000 level, even reaching a historic high of $94,700 at one point, marking the official arrival of the "94K era."
In this rally, Ethereum and Cardano (ADA) also followed suit. Especially ADA, which successfully held the psychological barrier of $0.41 today, with a peak touching $0.421. The months-long consolidation range (from $0.33 to $0.38) now appears to have transformed into a solid support. The market seems to be on the verge of an "altcoin season" breakout.
From the data, Bitcoin completed ample turnover within the $93,500 to $94,700 range. Analysts pointed out that with institutional capital inflows in the first week of the US stock market opening in January (ETF hitting a three-month high), BTC has cleared all technical obstacles on the way to $100,000.
More interestingly, on-chain data continues to show large holders accelerating the transfer of Bitcoin from exchanges to cold wallets. This supply-demand imbalance provides the most solid support for this current upward movement. Meanwhile, Cardano finally broke through and reclaimed the key level of $0.4, with a bullish structure gradually taking shape.