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Bitcoin fell to $89,900 on January 13, marking a 3.6% decline in 24 hours, attributed to profit-taking after a peak of $108,300 in mid-December. Analysts suggest that economic uncertainties surrounding President-elect Trump's policies and subdued trading volumes contribute to the bearish sentiment, though institutional accumulation indicates strong demand. The upcoming inauguration could reignite buying interest if pro-crypto policies are announced.
Bitcoin's price fell to $89,900 on January 13, marking a two-month low, driven by profit-taking after reaching $108,300 in mid-December and macroeconomic concerns surrounding President-elect Trump's policies. Despite subdued trading volumes, institutional accumulation suggests ongoing demand, with analysts predicting potential price increases to between $140,000 and $200,000 by mid-2025. The upcoming inauguration may reignite buying interest if pro-crypto policies are announced.
Bitcoin fell to $89,500, its lowest since November 2024, before recovering to $92,000, driven by rising US Treasury yields and strong jobs data that dampened risk appetite. The broader crypto market faced significant losses, with Ethereum down 8% and total market cap decreasing by 6%. This sell-off triggered $730 million in liquidations, while Bitcoin's market dominance rose to 58.5%, potentially delaying the anticipated alt season.
Ethereum is showing signs of recovery as buyers return to the market, stabilizing around $3,400 after a significant sell-off triggered by the Federal Reserve's hawkish rate cut decision. However, US investors continue to exert sell-side pressure, as indicated by the Coinbase Premium Index and recent ETF outflows. A critical support level at $3,014 could lead to a sharp decline if breached, while a daily close above $3,550 would invalidate bearish sentiments.
The cryptocurrency market faced significant volatility following the Federal Reserve's unexpected reduction in future rate cut projections, leading Bitcoin to drop below $93,000 before rebounding to around $96,950. Despite this pullback, experts argue that underlying factors such as regulatory support, institutional adoption, and technological advancements indicate a bullish trend for Bitcoin. Trading volumes surged, with profit-taking evident as Bitcoin ETF outflows reached a record $672 million in a single day, while altcoins like Ethereum saw increased buying activity.
Ethereum's performance in 2025 may hinge on institutional and retail demand, alongside macroeconomic conditions. A breakout above the $4,093 resistance could lead to a new all-time high near $7,000, contingent on broader market trends and ETF inflows. Key support levels to monitor include the $2,800-$3,200 range, with significant implications for price movement.
James Toledano
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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