At the time the article was being prepared, we had not yet entered the first minutes of Saturday and BTC He is trying to protect 90 thousand dollars. This week, MSCI broke loose and employment data came in against cryptocurrencies. While the Supreme Court tariff decision is postponed to Wednesday, the inflation report will be published next week. So, another busy week awaits us. So what about BTC?
Bitcoin (BTC)
Couldn’t break 94 thousand dollars permanently for a long time Bitcoin (BTC) It created overselling conditions in altcoins. After the 2-week holiday, altcoins were just starting to rise when we learned that the Supreme Court tariff decision would be announced soon. Now it has been postponed to Wednesday and US data is not supportive either.
Today we will discuss the current evaluation of 2 different analysts for BTC. Over the weekend, BTC will probably move in a narrow range and unless we see a big surprise, it is likely to move horizontally down in a volume-free environment. Rover wrote:
“BitcoinIt continues its consolidation in a narrow range between $89,800 and $91,200.
We saw a false move above $91,200 and liquidity was taken above $91,800 before the price rejected this level. “We will probably sweep the liquidity around $89,300 now.”
If the scenario expected by Rover happens over the weekend, altcoins that tried to stay strong during the last decline may also fall to support levels and provide easy short selling opportunities.
If you need optimism you look at Poppe’s charts. Looking at the glass half-full view, Poppe was doing the same thing on the way to the 2022 collapse. The analyst, who is hopeful as the 21-day moving average is protected by BTC, expects $94,000 to be reclaimed if the key area is maintained throughout the weekend.
What about ETF Investors?
Just as predicted, BTC has been painted red in the ETF channel for 3 days. January 7 was an outflow of nearly half a billion dollars, yesterday it dropped to 398 million dollars and we do not yet know how much outflow there is today. Supreme Court If he decides in favor of Trump, we can see that these outflows quickly turn into inflows and the BTC price moves up by 6-7 thousand dollars.
ETH ETF On the other hand, the situation is not very different; on January 8, there was an outflow of 159 million dollars. If we experience a real altcoin season, we will again see days when ETH ETFs exceed BTC inflows. ETF inflows were wild in June as ETH reserve companies committed to buying billions of dollars. However, this was very short-lived.
