#BTC

Bitcoin's value has recently fluctuated, influenced by economic indicators and regulatory developments. After reaching a peak of over $108,000 in December 2024, Bitcoin's price declined to approximately $92,812 by January 9, 2025. This downturn is attributed to elevated U.S. Treasury yields and signals from the Federal Reserve indicating a slowdown in policy easing.

Despite these challenges, the cryptocurrency market remains optimistic, especially with the anticipated pro-crypto stance of President-elect Donald Trump. The approval of U.S. spot Bitcoin exchange-traded funds (ETFs) in 2024 attracted significant investments, with BlackRock's iShares Bitcoin Trust becoming the most successful ETF debut in history. This trend is expected to continue, with more crypto products in the pipeline.

Analysts advise monitoring key support levels at $92,000 and $87,000, with resistance around the psychological $100,000 mark. The market's direction will likely be influenced by upcoming economic reports and regulatory decisions.