Bitcoin surged past $100,000 at the Jan. 6 Wall Street open, reaching nearly $101,506 on Bitstamp. This upward movement coincided with MicroStrategy's announcement of a Bitcoin purchase for its corporate treasury. Popular analyst Skew noted the clearing of significant sell orders at the $100,000 level, indicating a robust support for potential rallies. Another prominent trader, Rekt Capital, remarked that for Bitcoin to regain higher price discovery, it must secure a daily close above the $101,000 mark. Rekt pointed out that historically, Bitcoin has seen price overextensions beyond $101,000, often reaching at least $103,000. Meanwhile, trading firm QCP Capital highlighted that current funding rates are significantly lower compared to the initial breach of $100,000 in early December, suggesting a lack of imminent catalysts that could affect Bitcoin's price. As the market waits for the upcoming US jobs report on Jan. 10, analysts remain cautious but optimistic about Bitcoin's continued rally.

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