QCP analysis pointed out that Bitcoin briefly rebounded to $95,200 last night, successfully testing the key support of $92,500, but market sentiment was under pressure again in early Asian trading today due to the news that the US government applied to sell the BTC confiscated by Silk Road. Macro factors also continued to exert pressure. The latest minutes of the Federal Reserve meeting showed a hawkish stance on inflation risks and may slow down the pace of interest rate cuts. The weak performance of ADP employment data contrasted with the JOLTS job vacancy data, exacerbating market uncertainty. In the options market, the term spread widened further, and short-term volatility was under pressure. The implied volatility of the 17Jan ATM option fell by 3 fluctuation points compared with last night. It is expected that the price of Bitcoin will be consolidated in the range of $92,000-95,000. If it falls below $92,000, it may test the integer mark of $90,000.
