Bitcoin's price dropped by 4% on Jan. 7, shedding $96,849 and drawing attention to whale activity. The dip below $98,000 coincided with US JOLTS data indicating a hiring surge. Traders like Matt Cowart and Keith Alan commented on the market dynamics, with Alan highlighting the impact of 'spoofing' on liquidity. The removal of liquidity blocks on order books led to volatile price swings, resulting in over $30 million in long liquidations in one hour. Traders, including Rekt Capital and Cheds Trading, analyzed the market retracement and potential invalidation of a bearish pattern. Scott Melker and Justin Bennett also shared insights on key support levels and potential price movements. Overall, the article emphasizes the importance of conducting thorough research before making investment decisions in the volatile cryptocurrency market. Read more AI-generated news on: https://app.chaingpt.org/news

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