According to BlockBeats news on January 6, QCP released a daily market observation stating that this week has had a positive start, with Bitcoin (BTC) once again approaching the $100,000 mark, facing significant selling pressure once more. This level had previously experienced considerable selling pressure in December.
So, can Bitcoin break through the $100,000 mark? The first breakthrough of this key level was on December 5, when funding costs soared. However, this time the funding costs remain at a healthy level, and we do not expect a large-scale short squeeze in the short term. Unlike before, considering that the relevant catalysts related to Trump may not appear until after his inauguration on January 20, it is unlikely that similar market-driving factors will emerge at this time. Front-end volatility remains relatively mild, and overall market sentiment leans towards neutral.
Due to the lack of cryptocurrency-specific catalysts recently, the market will focus on the U.S. January non-farm payroll report this Friday (January 10). However, expectations regarding Friday's non-farm payroll report will be further confirmed this week through the JOLTS job openings data on January 7 and the ADP employment data on January 8.
