Bitcoin experienced significant volatility on January 10, reaching an all-time high of $109,356 on Bitstamp. Following this unprecedented surge, BTC rose from below $100,000 to over $109,000, marking a nearly 10% increase. This spike, associated with the emergence of Donald Trump's new memecoin, TRUMP, which quickly accumulated a $20 billion market cap, caused a tumultuous shift in the crypto market. Analysts noted a substantial recovery in open interest, jumping around $4.74 billion as Bitcoin made its way back toward all-time highs. Despite the tumultuous week, analysts like Jelle are optimistic, projecting a target of mid-$130K based on Bitcoin's breakout from a descending triangle formation. Fellow analyst Daan Crypto Trades stated that the closure of a small CME gap alongside this surge indicates a promising start to the week, foreshadowing potentially interesting developments for Bitcoin and the broader crypto market ahead.

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