Bitcoin challenges $99,000 three times, Ethereum holds steady at $3,600, analysts warn of a pullback before CPI data is released

Bitcoin failed to challenge $99,000 again in the early morning, while Ethereum held steady at the $3,600 mark. 10x Research report analysis: A slight pullback is expected before the CPI data is released on January 15, followed by a breakthrough of $100,000 before Trump's inauguration. (Background: Bitcoin celebrates its 16th birthday: What you should know about BTC from the genesis block to the 'national asset reserve competition' in 2025) (Supplementary background: Morgan Stanley spreads rumors of 'cryptocurrency trading', experts predict Bitcoin will surge to $200,000) Bitcoin (BTC) fluctuated between $97,000 and $99,000 over the weekend, failing three times to challenge $99,000 and currently reported at $98,159, with a near 24-hour increase of 0.09%. However, we know that weekends usually see less market volatility. As European and American investors return to normal trading days, as long as Bitcoin does not drop below last night's low of $97,200, there is a possibility of challenging the $100,000 mark again in the short term. Ethereum holds steady at $3,600 On the other hand, Ethereum (ETH) has shown a trend similar to Bitcoin in recent days, but seems to be stronger. As of the time of writing, it is reported at $3,617, still oscillating within a consolidation range. Overall liquidation data is flat According to Coinglass data, in the past 24 hours, the total liquidation amount across the cryptocurrency network was $136 million, with long positions liquidating at $89.62 million and short positions at $46.79 million, affecting over 68,000 people, with liquidation data not considered particularly severe. 10x Research's prediction for Bitcoin's January trend Looking ahead, 10x Research pointed out in an analysis report released over the weekend that we expect a positive start at the beginning of the year, followed by a slight pullback before the CPI data is released on January 15, and then a breakthrough of $100,000 before Trump's inauguration; however, the market may retreat again before the FOMC meeting on January 29. (The following image shows the expected BTC trend by 10x Research) Altcoins are stagnant? The report also mentioned that from January 2024 to mid-November, Bitcoin's market cap as a percentage of the overall cryptocurrency market surged from 50% to 60%, creating significant resistance for altcoin performance. Although this dominance metric briefly fell to 53% over three weeks (igniting hopes for an altcoin season), it quickly rebounded to nearly 58%, then consolidated around 55%. This consolidation highlights Bitcoin's enduring dominance as the main driving force in the cryptocurrency market, while also indicating potential challenges for altcoins—unless Bitcoin's dominance metric declines again. Similarly, Bitfinex analysts hold the view that Bitcoin will rise during January oscillations, having stated yesterday that they expect Bitcoin to climb to $105,000 in January: We anticipate that Bitcoin will maintain a range-bound market trend as investors seek to deploy capital across a range of different asset classes, expecting Bitcoin to fluctuate between $95,000 and $110,000 by the end of January. U.S. President-elect Trump will be inaugurated on the 20th, which could become an important catalyst for the cryptocurrency market's rise, as there are expectations for the new U.S. government to introduce more favorable cryptocurrency regulatory policies and improve U.S. economic policies. However, Bitfinex analysts believe Trump's inauguration may not immediately trigger a rise in the cryptocurrency market: We expect the new president's term to bring more clarity to cryptocurrency policy, but we do not believe the inauguration will be a significant price rally event; rather, it will serve as a prelude to paving a less obstructive path for cryptocurrencies in the U.S. Related reports MicroStrategy has plunged 44% from its peak! 10x Research: The leveraged Bitcoin narrative is dissipating, three key factors will determine BTC's trend this year Bitcoin stands back at $95,000, Ethereum surges to $3,400, is market liquidity returning? How does Bitcoin perform after each New Year's Day? A summary of historical data for BTC over the past 12 years tells you 'Bitcoin challenges $99,000 three times, Ethereum holds steady at $3,600, analysts warn of a pullback before CPI data is released' was first published on BlockTempo (the most influential blockchain news media).