Golden Finance reported that CryptoQuant analyst Axel Adler said that if Bitcoin wants to rise above $105,000 in January, it still needs to accumulate more trading volume. "The market structure remains bullish and there are no clear signs of overheating. We lack sufficient volume for a strong push. So we are waiting for the market to recover from the holidays," Adler said. On January 3, Bitcoin’s daily trading volume exceeded $66.7 million, down 91% from $743 million on December 5 last year when it first exceeded the $100,000 mark. Still, analysts remain optimistic about Bitcoin's trajectory in 2025, with forecasts ranging from $160,000 to $200,000, driven by growing investor risk appetite amid expectations of improved U.S. financial policy.