We’re only halfway through January BTC It could not overcome the $98 thousand resistance. Nowadays, analysts believe that resistance can be overcome in an environment where $94 thousand is maintained as support. However, BTC has already fallen below $96,000 and it is unclear what will happen as we approach weekend volumelessness. BTC interest in the ETF channel has been strong for 2 days and the picture will take more shape when today’s figures become clear.
BTC Supply Shock and Collapse (SOL)
Swissblock points out that despite the outflows of long-term investors, whales and short-term buyers are convinced. The interest in the ETF channel is evident, and the on-chain analysis platform sharing the chart below wrote;
“While long-term investors are showing moderate outflows, whales and short-term investors are buying decisively. This demand is driving stock market liquidity into institutional custody services. This is also highlighted by over $1.7 billion inflows into ETFs since January 12.”
There was a massive inflow of $800 million on January 14 alone, and BlackRock Its IBIT represented $648 million of that total. “We are witnessing a classic Supply Shock that pushes BTC above $97,000 as institutions effectively “dry up” the market.”
The problem here is that, after ETF outflows have reached serious levels, inflows have not yet reached such appetizing levels. Depending on whether it continues or not, we may see more on this channel.
The appetite for altcoins has not returned yet, but at the time of writing BTC Since it retreated around 1.5%, 5% losses are noteworthy in many altcoins. On-Chain Mind shared its current market assessment specifically for Solana. Here he wrote that $146 constitutes structural resistance and a break should be waited for a trend change.
“A rejection keeps SOL within the range bounds and increases the risk of another decline towards the important support at $123.” – On-Chain Mind
XRP Coin Predictions
If XRP Coin If it lost the $2.08 support, it is most likely that the upward appetite in altcoins is also disappearing. This is what we see when we look at the chart. Due to the fact that BTC’s rise does not continue, investors are forced to remain cautious, believing that this attempt may be a short opportunity like the previous ones.
Things were going well in the XRP Coin ETF channel with daily inflows of over $10 million for 3 days. Some outflows are possible as a result of today’s decline, although not as much as the outflows of January 7. With the loss of $ 2.02, we can see a decline to $ 1.98 and $ 1.9.
