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Bitcoin analysts are closely monitoring the weekly close, emphasizing the need for the cryptocurrency to surpass the $85,000 mark to avoid a potential correction to $76,000. Ryan Lee, chief analyst at Bitget Research, highlights that the current market lacks direction amid global trade tensions and easing inflation concerns. A close above $85,000 is deemed critical following Bitcoin's recent relief rally post-FOMC meeting and lower CPI readings.
Bitcoin exchange reserves have fallen to 2.35 million BTC, the lowest since 2018, indicating tightening supply and increased institutional interest, particularly from hedge funds. Despite this, low trading volume raises concerns about the ability to break key resistance levels, while long-term forecasts remain optimistic, predicting Bitcoin could exceed $150,000 by late 2025 due to macroeconomic factors.
MicroStrategy's Bitcoin holdings have surpassed 450,000 BTC after a $243 million investment during a market dip, totaling $28.2 billion at an average price of $62,691. This purchase coincided with a significant drop in Bitcoin exchange reserves, potentially signaling a price rally due to diminishing supply.Despite Bitcoin reaching a record high of over $100,000 in December 2024, macroeconomic factors, including strong US labor market data and concerns over the Federal Reserve's tightening monetary policy, have contributed to recent price declines. Other firms, like Semler Scientific, are also capitalizing on the dip, purchasing additional Bitcoin.
Bitcoin reserves on exchanges have plummeted to a near seven-year low, driven by institutional buying, which could lead to a supply shock and potential price rally. Despite a promising trajectory towards the $100,000 mark, the market is currently experiencing low trading activity, indicating a lack of momentum for significant price movements. Analysts remain optimistic, predicting a possible cycle top above $150,000 by late 2025, fueled by an anticipated increase in global money supply.
The Federal Reserve is adopting a cautious stance on monetary policy as it assesses the potential economic impacts of President Trump's incoming policies. With inflation above the 2% target and recent rate cuts already in place, officials emphasize the need for a neutral approach to balance growth and inflation control.Federal Reserve officials, including Governor Michelle W. Bowman and Kansas City President Jeff Schmid, have highlighted the importance of patience and careful evaluation of economic conditions, reflecting uncertainty over future rate cuts amid mixed economic data.
Bitcoin investors withdrew nearly $570 million from US-listed spot ETFs on January 8, as the cryptocurrency's price dipped below $100,000, marking the second-highest daily outflow since launch. The Fidelity Wise Origin Bitcoin Fund was responsible for 45% of this outflow. Despite the significant liquidations totaling around $521 million in the crypto market, overall sentiment remains in the "Greed" zone, with a score of 69 on the Crypto Fear & Greed Index.
BlackRock's iShares Bitcoin Trust (IBIT) experienced record outflows of $333 million on January 2, attributed to profit-taking and end-of-year tax-loss harvesting by investors. Despite this, IBIT has surpassed $50 billion in assets under management in just 228 days, significantly outpacing previous ETFs. Analysts remain optimistic about the ETF's role in enhancing Bitcoin's legitimacy and mainstream acceptance.
US-based spot Bitcoin ETFs are nearing $110 billion in cumulative holdings, with BlackRock's iShares Bitcoin Trust ETF leading the market, holding over 542,000 BTC valued at $51.5 billion. Analysts predict Bitcoin could reach $200,000 by 2025, driven by institutional adoption and market dynamics, despite facing resistance around $97,600 and $99,000.
The Coinbase premium index, a key indicator of Bitcoin retail demand in the US, has dropped to a 12-month low of -0.23, reflecting increased seller pressure as Bitcoin's price fell to $91,479. Analysts warn that this trend could hinder short-term price recovery unless macroeconomic conditions improve or retail interest surges. Long-term holders are seeing significant profits, which may lead to potential sell-offs as the new year approaches.
Bitcoin has surged past $100,000, fueled by positive sentiment from Trump's pro-crypto stance and a bullish outlook in options data. As altcoin season approaches, traders are eyeing cheap altcoins like Ethereum, AAVE, and gaming tokens for potential gains, despite recent market corrections. The Fear and Greed Index indicates "extreme greed," suggesting a strong investor appetite in the crypto market.
Ryan Lee
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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