$BTC
• Intraday trend: On January 10, Bitcoin's price showed a fluctuating adjustment trend. According to data from CoinWorld, Bitcoin's price today is 92,413.690, with a 24H fluctuation of -2.77% and a 1-hour fluctuation of 0.53%.
• Recent trend: In recent days, Bitcoin experienced a certain degree of decline on January 9, with some analysts suggesting this is a continuation of last week's downward trend, influenced by factors such as the Federal Reserve's policies. Although there was a slight rebound on January 10, the overall trend remains downward.
Technical Analysis
• Support and resistance: Analysts point out that Bitcoin's support level is around the 90,000 mark and near 3,050, while the upper resistance is at 95.5-96.5. If the price falls below the 90,000 mark, it may further dip to around 88,000.
• Pattern analysis: From the daily time frame, some traders believe that Bitcoin's head and shoulders pattern may fail. Overall, Bitcoin is currently in a downward trend, and the trading volume during the day is insufficient, with subsequent demand likely to break lower to clear the upper long positions.
Market Sentiment and Expectations
• Bearish sentiment: Some analysts hold a bearish view on Bitcoin's trend in the short term, believing there is still some room for decline. They advise investors to pay attention to the lower support levels, and if the price falls below the support level, they may consider holding short positions.
Influencing Factors
• Macroeconomic and policy: The Federal Reserve's monetary policy significantly impacts the cryptocurrency market. Currently, concerns about the Federal Reserve's monetary policy and rising bond yields have intensified, negatively affecting Bitcoin's price. Additionally, the upcoming cryptocurrency regulations under the Trump administration are also important factors influencing Bitcoin's price trajectory.
• Market supply and demand: The supply of Bitcoin is fixed, and as the market continues to develop, its demand is also changing. Currently, Bitcoin's circulating supply is 19,806,500 BTC, with a maximum supply of 21,000,000 BTC. The market demand for Bitcoin is influenced to some extent by investor sentiment and market hotspots. For example, Thailand plans to launch a pilot project in Phuket in 2025, allowing tourists to use Bitcoin for payments, which may increase market demand for Bitcoin.
