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According to David Lawant, head of research at FalconX, Bitcoin, the flagship cryptocurrency, recorded a whopping $46 billion in spot trading volume on Monday. This is the largest print ever logged during a holiday/weekend, according to Lawant. Notably, this is also the fifth-biggest volume print of all time. The stock market was closed on Monday as Americans were celebrating Martin Luther King Day to honor the famous civil rights advocate. Yesterday, the price of Bitcoin reached a new record high of $109,356. However, this rally was short-lived. The cryptocurrency ended up briefly retracing below the $100,000 level during the same day, printing an ugly candle on the chart. The market was disappointed by the lack of mention of a strategic Bitcoin reserve on Monday in the US despite high expectations. The likelihood of the reserve being established in the US within the next 100 days has plunged to just 33% on the Polymarket betting site. This disillusionment has likely contributed to the significant Bitcoin correction. At press time, it is changing hands at $101,753 on the Bitstamp exchange, struggling to recover following the painful plunge from record highs. According to data provided by CoinGlass, $747.71 million worth of crypto has been liquidated over the past 24 hours alone. Bitcoin's total open interest is currently at $67.5 billion, down nearly 5% from Monday. As reported by U.Today, Google searches for "how to buy crypto" recently hit yet another record high. However, this exuberance might fade fast if there is not rapid pro-crypto U-turn in the U.S. #BTCBreaksATH
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BTC broke its all-time high (ATH) yesterday, but despite today's significant event (Trump's inauguration), it's experiencing a pullback. The reason? BTC is targeting liquidity at $100,900âa key level where many stop-losses and leveraged positions are stacked. Once BTC sweeps this liquidity, we can expect a strong bounce, likely pushing the price back toward $109,000 as the next upside target. This is a classic move in high-volatility marketsâgrabbing liquidity before resuming the trend. #BTCBreakATH $BTC
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Crypto Price Analysis 1-9 BITCOIN: BTC, ETHEREUM: ETH, SOLANA: SOL, CARDANO: ADA, APTOS: APT, INT... Bitcoin (BTC) continued to drop for a second day as it slipped below $95,000 on Wednesday, falling to a low of $92,911 before recovering and moving to its current level of $94,442. The flagship currency is down almost 3% over the past 24 hours, as the crypto market lost $320 billion. BTCâs drop comes despite spot Bitcoin ETFs defying bearish sentiment and registered inflows of around $52 million. Meanwhile, Ethereum (ETH) showed resilience, dropping only around 1.50% despite registering a substantial drop on Tuesday. The worldâs second-largest cryptocurrency is trading around the $3,300 level. Ripple (XRP) was one of the few assets that defied the marketâs bearish trajectory as it registered a marginal increase, buoyed by its partnership with Chainlink (LINK). With the crypto markets in the doldrums, its market cap has dropped almost 2% to $3.32 trillion. Bitcoin (BTC) Slump Could Set Stage For Rally Near Trump Inauguration Bitcoin (BTC) saw a substantial decline as it dropped below $95,000 after resilient US job figures sent risk assets spiraling. The US Labor Departmentâs JOLTS report showed around 8.1 million job vacancies, significantly more than the anticipated 7.74 million. The numbers led to a risk-off atmosphere in the markets and sent bond yield upwards and a decline in risk assets like BTC. According to QCP BTCâs decline stemmed from liquidations of around $206 million in an hour. The volatility also reached the traditional markets, with the S&P 500 and Nasdaq witnessing significant volatility. The response of the traditional markets highlights BTCâs interconnectedness with the wider financial market, especially during economic uncertainty. Meanwhile, spot Bitcoin ETFs have registered a 94% decline, falling from $987 million to $52.9 million. However, BlackRockâs IBIT remained the exception, registering $596 million in investments and bucking the trend of outflows witnessed across all ETFs. #NFPCryptoImpact
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