After a Historic January, What’s in Store for Bitcoin in February? – Crypto News – Crypto News
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Bitcoin Price to Keep Rising, According to These On-Chain Support Levels Bitcoin Price to Keep Rising, According to These On-Chain Support Levels

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After a Historic January, What’s in Store for Bitcoin in February? – Crypto News

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1 year ago

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Although the previous month (and the start of the new year) began on the wrong foot, with BTC standing firmly within fix-digit price territory, the asset managed to turn it around and charted a new all-time high a couple of weeks back.

All eyes have now turned to February, which is historically a highly profitable month for the largest cryptocurrency.

Strong January Ends

Recall that BTC experienced a massive correction at the end of 2024, with its price tumbling from $100,000 on December 26 to under $92,000 on December 30. After some more volatility within the five-digit territory, bitcoin entered the new year at around $93,500 (on most exchanges).

Within less than a week, it found itself surging past the coveted $100,000 line, only to see a massive rejection at this point that propelled a violent correction. On January 13, BTC slumped below $90,000 for the first time since November amid fear and uncertainty in the US political and economic scene.

However, the bulls intervened at this point and didn’t allow any further declines despite multiple warnings about a potential breakdown to as low as $75,000. Just the opposite, BTC reversed its trajectory quite decisively and jumped past $100,000 three days later.

More volatility ensued on January 20, which was Donald Trump’s inauguration day. Hours before the highly anticipated event, BTC slumped from $106,000 to under $100,000 but exploded by nearly ten grand to register a new all-time high of over $109,000.

This record was reached somewhat surprisingly, and BTC didn’t last there long. Nevertheless, it managed to end the month within six-digit territory, closing January with a 9.29% surge, according to CoinGlass.

Bitcoin Monthly Returns. Source: CoinGlass

What’s Next?

Now that the first month of the new year is officially in the record books, the community has turned its sight to February, which is among the best months for BTC, historically. In fact, just two of the last 12 Februaries have ended in the red, and the last one was five years ago – in 2020.

Moreover, all three that came after a halving year have resulted in substantial returns – 61.77% in 2013, 23.07% in 2017, and 36.78% in 2021. Consequently, there’s a lot to be hopeful for the next month.

There’s certainly a lot of bullish sentiment across the market, such as the growing number of USDT and USDC sitting on exchanges, which typically suggests that investors are preparing to enter the market.

Separately, President Trump signed an executive order to explore adding certain digital assets into the US reserves, which could give the markets a massive boost if accepted.

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