This plunge was mainly dragged down by the U.S. stock market. Why? It's because inflation is severe in the U.S., causing the stock market to be weak, which in turn has affected our cryptocurrency market. The NASDAQ and S&P 500 both dropped over 1% yesterday. Can the crypto market stay unaffected? Yesterday, the Americans stirred up fears regarding interest rate cuts, saying there won't be any cuts before July 2025. The crypto market was also impacted, truly a case of 'when the city gates catch fire, the fish in the moat suffer!'
Now, the question arises: has the panic passed? Can we average down? Don't rush, listen to me slowly. Remember, this is just my personal review and does not constitute any investment advice! The crypto market has risks, and investment should be cautious.
Let's first discuss $BTC . It is estimated to fluctuate between 93,000 and 98,000. Currently, it appears that a temporary bottom has formed at last night's spike position of 92,500. The key will depend on the performance of the U.S. stock market. If the stock market falls again, we might have to suffer as well. But if the stock market stabilizes, then BTC might just linger around this position.
Let's talk about $BNB again. It has performed reasonably well in the last 24 hours, dropping less than Bitcoin. It is expected to consolidate between 680 and 720. The platform has also released some positive news, along with airdrop lock-ups and such, so its price will be relatively stable.
Lastly, let's talk about $ETH . This one is a bit weaker, expected to fluctuate between 3250 and 3550. Why? It's because of the massive reduction in ETF holdings during yesterday's crash, which caused a stampede. However, if it drops further, its volatility should be similar to BTC, and the possibility of being oversold will be much less.
Some important news:
1. According to a two-year study by the University of Pennsylvania covering 22,000 Americans, 41% of Republicans hold cryptocurrencies, compared to 32% of Democrats.
2. The number of initial jobless claims in the U.S. for the week ending January 4 was 201,000, the lowest since the week of February 17, 2024. The expectation was 218,000, while the previous value was 211,000. The ADP employment number for December in the U.S. recorded 122,000, which was below the market expectation of 140,000.
3. Insiders: Trump is considering declaring a national economic emergency to introduce a new tariff plan.
4. Bhutan's GMC announced the inclusion of BTC, ETH, and BNB in its strategic reserves.
Let's talk about today's daily BTC technical analysis. From the K-line perspective, the 1-hour level is bullish, the 4-hour level is bottoming, the 12-hour level is bearish, and the daily level is bearish. The intraday resistance is 96,800, and the support is 92,500 USD. #加密市场回调 #BNB纳入不丹GMC加密战略储备 #市场调整策略
