According to Deep Tide TechFlow news, on January 6, QCP released a market analysis stating that Bitcoin has had a positive start this week, with prices once again approaching the $100,000 mark, but it may face significant selling pressure, a level that had experienced considerable selling pressure in December. Bitcoin first broke through this critical level on December 5, when funding costs soared.
However, this time the funding costs remain at a healthy level, and we do not expect a large-scale short squeeze in the short term. Unlike before, considering that the relevant catalysts from Trump may not appear until after his inauguration on January 20, it is unlikely that similar market-driving factors will emerge at this time. Front-end volatility remains relatively mild, and overall market sentiment is neutral.
As there are no specific cryptocurrency catalysts recently, the market will focus on the U.S. non-farm payroll report for January, which is due this Friday (January 10). However, expectations for Friday's non-farm payroll report will be further confirmed within the week through the JOLTS job openings data on January 7 and the ADP employment data on January 8.
