As the last week of January dawns, Bitcoin (BTC) finds itself tumbling below the once-coveted $100,000 mark, much like a clumsy dancer at a ball, while US stocks are caught in a heated duel with the ever-looming specter of artificial intelligence.
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BTC/USD, in a rather unfortunate twist, takes a nosedive as stock futures plummet, igniting fresh warnings of a price crash. Who knew the market could be so dramatic? 🎭
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This downward spiral occurs at a time when risk assets are already on edge, with the Federal Reserve poised to make its next move on interest rates. Talk about a nail-biter! 🥴
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Data from CryptoMoon Markets Pro and TradingView reveals that BTC/USD dropped up to 4% on January 27, mirroring the plummeting stock futures. It seems Bitcoin has a flair for the dramatic! 🎢
In this act of surrender, Bitcoin relinquished the $100,000 mark once again, reaching ten-day lows. A tragic tale indeed! 📉
Traders, however, appeared unfazed, insisting that the mid-term BTC price range remains intact. “$BTC is simply heading down to one end of our range that we’ve been trapped in for the last week, nothing to be freaking out about,” quipped the ever-optimistic trader Credible Crypto on X. 😏
“In fact, I’m glad we’re going for the lows first because it’s healthier for us to take liquidity from the lows of this range while leaving liquidity behind at the highs.”
Credible Crypto thus joined the chorus calling for a potential revisit of range lows around $90,000. A true visionary! 🔮
“Still betting on a higher low forming here on BTC,” chimed in fellow trader CJ. “Either SFP this current low, or land into the daily untapped demand + yearly open. My line in the sand. … Losing the low that printed the latest ATH wouldn’t be a great look.”
“If you know, you know—this is the definition of a bull market.”
Yet, not all share this optimism. Arthur Hayes, the former CEO of crypto derivatives platform BitMEX, expressed a sense of foreboding. He tantalizingly hinted that BTC/USD could plummet to a staggering $75,000 before soaring to a quarter of a million dollars by the end of 2025. A rollercoaster of emotions! 🎢
FOMC offers little chance of interest rate cut
This week, the Federal Reserve takes center stage as officials deliberate the future of interest rates. Will they or won’t they? The suspense is palpable! 🎭
The Federal Open Market Committee (
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2025-01-27 12:09