Analysis of Bitcoin Market on January 6, 2025:

Price Trend

As of January 6, 12:39 PM, the price of Bitcoin against the US dollar is $96,558.29, down $1,741.72 from the previous trading day, a decrease of 1.77%. Over the last 24 hours, Bitcoin's price fluctuated between $95,200 and $98,543.14, with a highest price of $98,543.14 and a lowest price of $95,200.

Market Trend Analysis

• Short-term Trend: From the recent price movements, Bitcoin's year-end rally has stalled, and the upward momentum has weakened. After experiencing a rapid decline around December 26, it stabilized around the $96,000 mark and is currently in a narrow range of fluctuations.

• Medium-term Trend: Over the past month, Bitcoin's increase is 0.77%, while it has decreased by 0.56% over the past week. This indicates that after a significant rise in 2024, the market is now entering a certain adjustment period.

• Long-term Trend: The total market value of cryptocurrencies nearly doubled in 2024, with Bitcoin's price soaring from around $38,572 at the beginning of the year to about $96,000 currently, an increase of 126.15%.

Market Influencing Factors Analysis

• Macroeconomic Factors: Since September 2024, the Federal Reserve has cut interest rates three times, reducing the federal funds rate by a total of 100 basis points, from 525-550 to 425-450. The decline in interest rates typically reduces the opportunity cost of holding Bitcoin, thereby providing some support for Bitcoin's price.

• Policy and Regulatory Factors: The incoming U.S. President Donald Trump promised to include Bitcoin in the U.S. strategic reserves during his campaign, a prospect that previously drove Bitcoin prices to break the $100,000 mark. However, investors are currently assessing the remaining momentum of this promise and the future regulatory stance of the U.S. government towards the cryptocurrency industry.

• Market Sentiment and Capital Flow: There has been a continuous large net outflow from Bitcoin spot ETFs, indicating a significant increase in cautious attitudes among investors. #比特币走势分析 $BTC