Analyst: Expect Q1 to maintain range-bound fluctuations with intense volatility, but the price has already built a more solid support foundation.

On January 5th, in response to the recent rebound in the crypto market, SynFutures Chief Operating Officer Wenny Cai stated: “The significant increase in average CEX Bitcoin inflows indicates that large holders are re-engaging. This is often an early sign of a new round of speculative activity rather than market noise driven by retail investors. However, the current market resembles a rebalancing after weeks of light holdings, with traders testing upward potential rather than building large positions. Bitcoin is expected to remain range-bound with high volatility in the first quarter, with the direction depending on ETF fund inflows and institutional strategies.” Crypto market maker Caladan Research Director Derek Lim said: “Although the Venezuela incident has no direct impact on crypto prices, it has made the geopolitical situation more unstable.” He warned that the chain reaction from this move “could trigger panic events affecting the market.” Lim also pointed out that despite cautious sentiment, large holders are re-entering after a period of accumulation, signaling a shift in market dynamics. The number of long-term Bitcoin holders has turned net buyers for the first time in months, indicating that even within the established trading range, a more solid support base has been built.