The current correction is nearing its end, signalled by a potential 14 January close for the leading cryptocurrency above $91,000, according to trader Rekt Capital.
Bitcoin is in its first Price Discovery Correction
Here is a look at historical first Price Discovery Corrections:
2013: -75% in 13 weeks
2017: -34% in 3 weeks
2021: -31% in 4 weeks
2025: -15% in 4 weeks thus far
Of course, 2013 is the clear outlier
Perhaps 2017 &…
— Rekt Capital (@rektcapital) January 11, 2025
In his view, “the current 15% pullback [from ATH] has been modest by historical standards”.
By his calculations, in previous cycles this metric ranged from 30% to 35% and lasted three to four weeks.
“History suggests the current correction may be in its final stages,” the trader stressed.
Rekt Capital says reclaiming $91,000 as support and a daily close “play an important role in determining the next direction”.
Bitcoin has reclaimed $91k as support
However, Bitcoin needs to Daily Close just like this to confirm the reclaim
This just shows that lots can still change throughout the day and that the upcoming Daily Close will be quite important in dictating the next move$BTC… https://t.co/hSVfrOpZ4X pic.twitter.com/TT4kESiz8J
— Rekt Capital (@rektcapital) January 13, 2025
Veteran technical analyst Peter Brandt shares a similar view. He called it a “knife fight”.
Knife fight at the OK Corral $BTC
Will Team Green or Team Red win the battle of the gashes pic.twitter.com/CbtKKlPED3— Peter Brandt (@PeterLBrandt) January 13, 2025
His chart implies a win for the “reds” would mean a drop to $74,100, while a “green” victory would point to an ATH around $116,600.
Analyst Trader Tardigrade expects a “powerful rebound” after “final capitulation” on 13–14 January. He pointed to similar events in January.
The current #Crypto market sentiment isn’t great. I’d actually welcome a downturn in the next couple of days to complete this price action.#Bitcoin experienced a Final Capitulation at the 27th bar during consolidation in January 2024, just before a Massive Rebound ?
If history… pic.twitter.com/aoww3wtzig— Trader Tardigrade (@TATrader_Alan) January 13, 2025
In options markets, interest has returned to March $100,000 calls. AmberData recorded a $6m trade and linked it to the forthcoming inauguration of US president Donald Trump.
BTC Options Trade Worth Over > $6M ?
A trader spent over $6,000,000 on March 28, 2025, 100k calls!
This trade anticipates that new highs for Bitcoin will be broken just a few months after Trump officially takes office.
Source: AD Derivatives @genesisvol… pic.twitter.com/OPL6b7bxNp
— Amberdata (@Amberdataio) January 3, 2025
QCP Capital earlier forecast “positive surprises” in US inflation data due on 14 January.
Earlier, Fundstrat co-founder Tom Lee flagged $90,000 as a good entry point for bitcoin.