<div id="readability-page-1"><div><p>Bitcoin  is bracing for the US Presidential inauguration as traders prepare for volatility.</p><ul><li>Rangebound  is tipped to deliver some surprises around the Jan. 20 inauguration, with key levels standing out.</li><li>The week will see multiple core inflation prints as the Federal Reserve takes multiple interest rate cuts off the table.</li><li>The Fed also faces a struggle to contain US dollar strength — a crypto headwind now at its highest since late 2022.</li><li>Binance’s take buy/sell ratio shows signs that Bitcoin may become a firmer “bid” this month.</li><li>Exchange inflows are cooling, with traders choosing to hodl BTC in the mid-$90,000 zone.</li></ul><p><strong>Bitcoin still risks breaking below $90,000</strong></p><p>Bitcoin remains firmly rangebound as a new week begins, with potential volatility triggers reserved for later.<span></span></p><figure><div><img src="https://imageproxy.pbkrs.com/https://s3.tradingview.com/news/image/cointelegraph:923ab784f094b-d26899197961458718245939bb7e1a05-resized.jpeg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="1135" height="600" original-src="https://imageproxy.pbkrs.com/https://s3.tradingview.com/news/image/cointelegraph:923ab784f094b-d26899197961458718245939bb7e1a05-resized.jpeg"/></div></figure><p></p><p>After a spike to near $96,000 around the weekly close,  quickly returned to familiar ground around $93,000, data from Cointelegraph Markets Pro and TradingView shows.</p><p>Considering what could impact the short-term BTC price trend, popular trader CrypNuevo identified two key levels.</p><p>“In terms of LTF liquidations, we can see it in two different zones: • $91k: sweep of range lows • $97k - $96.3k: nearby liquidations which can be the easiest target right now. We can also see $96.6k as the main liquidation level,” he explained in a post on X.<span></span></p><figure><div><img src="https://imageproxy.pbkrs.com/https://s3.tradingview.com/news/image/cointelegraph:923ab784f094b-5320d66c74e65d5077d721f29017e3f7-resized.jpeg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="1200" height="598" original-src="https://imageproxy.pbkrs.com/https://s3.tradingview.com/news/image/cointelegraph:923ab784f094b-5320d66c74e65d5077d721f29017e3f7-resized.jpeg"/></div></figure><p>CrypNuevo was referring to where large numbers of liquidations on exchange order books may likely occur.</p><p>Zooming out, another chart revealed how much  needed to move up or down to exit its current range.</p><p>“Mid range gets often retested after a breakout to confirm support/resistance before continuation,” he acknowledged.<span></span></p><figure><div><img src="https://imageproxy.pbkrs.com/https://s3.tradingview.com/news/image/cointelegraph:923ab784f094b-b6306df854005e5312819ba01c5822ea-resized.jpeg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="1057" height="600" original-src="https://imageproxy.pbkrs.com/https://s3.tradingview.com/news/image/cointelegraph:923ab784f094b-b6306df854005e5312819ba01c5822ea-resized.jpeg"/></div></figure><p>Fellow trader Daan Crypto Trades was equally interested in the range boundaries, telling traders to “key an eye” on them before a breakout above $104,700.<span></span></p><figure><div><img src="https://imageproxy.pbkrs.com/https://s3.tradingview.com/news/image/cointelegraph:923ab784f094b-840ebbbff23c37f387033a2989336942-resized.jpeg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="984" height="600" original-src="https://imageproxy.pbkrs.com/https://s3.tradingview.com/news/image/cointelegraph:923ab784f094b-840ebbbff23c37f387033a2989336942-resized.jpeg"/></div></figure><p>“$BTC holding $93k and the aggression won't start until that level is lost,” another popular trader, Cold Blooded Shiller, continued on the topic of a breakdown.</p><p>“Based on the TA it still looks likely that level will snap, and then it's all about the downside total. Everyone wants $85k which means we probably scare those buyers by impulsing a little further.”</p><figure><div><img src="https://imageproxy.pbkrs.com/https://s3.tradingview.com/news/image/cointelegraph:923ab784f094b-ba80cfa45212caa64c46cd911c569dc0-resized.jpeg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="1134" height="600" original-src="https://imageproxy.pbkrs.com/https://s3.tradingview.com/news/image/cointelegraph:923ab784f094b-ba80cfa45212caa64c46cd911c569dc0-resized.jpeg"/></div></figure><p>As Cointelegraph reported, various forecasts have already seen a retest of sub-$90,000 levels for Bitcoin in January.</p><p><strong>CPI headlines a testing week for the Fed</strong></p><p>January for crypto and risk assets continues with a “huge week” for both inflation tendencies and the US Federal Reserve.</p><p>In the coming days, several key macroeconomic data prints will be released, including the Consumer Price Index (CPI) and Producer Price Index (PPI) for December 2024.</p><p>Coming at a time when inflation is rising at the same time as unemployment, the Fed will be keenly eyeing the latest numbers ahead of its next meeting on interest rate changes at the end of the month.</p><p>As Cointelegraph continues to report, the Fed has flipped markedly more hawkish over the past month, with markets dialing down the odds of future rate cuts as a result. For crypto, stocks and more, the implication is lower capital inflows, and trader sentiment has thus declined.</p><p>“It's a huge week for inflation data and the Fed,” trading resource The Kobeissi Letter summarized in part of its latest X posts.</p><p>Kobeissi noted that CPI and PPI would form the last prints of their type before the Fed rate decision, due on Jan. 29.</p><p>“Higher for longer is officially back in full swing,” it added about interest rate tendencies going forward.<span></span></p><figure><div><img src="https://imageproxy.pbkrs.com/https://s3.tradingview.com/news/image/cointelegraph:923ab784f094b-bfda6d45ece18e6ce63ad050e135d6f9-resized.jpeg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="1200" height="600" original-src="https://imageproxy.pbkrs.com/https://s3.tradingview.com/news/image/cointelegraph:923ab784f094b-bfda6d45ece18e6ce63ad050e135d6f9-resized.jpeg"/></div></figure><p>The latest estimates from CME Group’s FedWatch Tool put the chances of a minimal 0.25% rate cut in January at just 2.7%.</p><p>Initial jobless claims, meanwhile, round out the week on Jan. 16.</p><p><strong>US dollar strength nears Fed “response” point</strong></p><p>The US dollar is riding high in the run-up to US President-elect Donald Trump’s inauguration on Jan. 20.</p><p>Seen as a seminal event for the current risk-asset rally, Trump’s return to power is preceded by conspicuous dollar strength, which traditionally poses a headwind to crypto market performance.<span></span></p><figure><div><img src="https://imageproxy.pbkrs.com/https://s3.tradingview.com/news/image/cointelegraph:923ab784f094b-2a2b9b9fc9a562808b666a0a72e473cb-resized.jpeg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="838" height="600" original-src="https://imageproxy.pbkrs.com/https://s3.tradingview.com/news/image/cointelegraph:923ab784f094b-2a2b9b9fc9a562808b666a0a72e473cb-resized.jpeg"/></div></figure><p>While the correlation between crypto and the US dollar index (DXY) is a matter of debate, the former nonetheless stands at its highest levels in over two years.</p><p>The last time such levels were seen, in October 2022, Bitcoin was at the start of its bear market bottoming sequence which completed around two months later.</p><p>Popular trader Tony “The Bull” Severino further revealed that the correlation between the two has now reached its highest level since 2016.<span></span></p><figure><div><img src="https://imageproxy.pbkrs.com/https://s3.tradingview.com/news/image/cointelegraph:923ab784f094b-89ac926433de1212fe3f76a43d1e9f55-resized.jpeg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="740" height="600" original-src="https://imageproxy.pbkrs.com/https://s3.tradingview.com/news/image/cointelegraph:923ab784f094b-89ac926433de1212fe3f76a43d1e9f55-resized.jpeg"/></div></figure><p>“Still treating $DXY as a structural breakout until it isn't,” market research app The Trading Initiative told X followers on Jan. 12.</p><p>“Risk assets likely to continue to struggle until the Dollar drops. Above 110 has historically elicited a response from the Fed as things often begin to break. 110.86 is the target.”</p><figure><div><img src="https://imageproxy.pbkrs.com/https://s3.tradingview.com/news/image/cointelegraph:923ab784f094b-7c8c4b588acd5acbd74ad9b0ae905b7f-resized.jpeg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="1178" height="600" original-src="https://imageproxy.pbkrs.com/https://s3.tradingview.com/news/image/cointelegraph:923ab784f094b-7c8c4b588acd5acbd74ad9b0ae905b7f-resized.jpeg"/></div></figure><p><strong>Data hints BTC sellers “losing strength”</strong></p><p>For onchain analytics platform CryptoQuant, there is light at the end of the tunnel when it comes to Bitcoin’s current consolidation phase.</p><p>In one of its Quicktake blog posts on Jan. 12, contributor Crazzyblockk identified encouraging data from the taker buy/sell ratio metric on Binance.</p><p>The ratio compares buy and sell volumes and is attempting to settle higher on weekly timeframes. As Cointelegraph reported last week, its rolling 30-day simple moving average (SMA) flipped to signal sell-side dominance for the first time since March.</p><p>“Despite a -5% monthly change, new signs are emerging in the Binance taker buy/sell ratio that suggest sellers are losing strength,” the post asserts. </p><p>“The positive shifts in this weekly ratio indicate that sellers are weakening and buying demand is on the rise.”</p><figure><div><img src="https://imageproxy.pbkrs.com/https://s3.tradingview.com/news/image/cointelegraph:923ab784f094b-79f049217ff8454dbb3f767a0238b25a-resized.jpeg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="1094" height="600" original-src="https://imageproxy.pbkrs.com/https://s3.tradingview.com/news/image/cointelegraph:923ab784f094b-79f049217ff8454dbb3f767a0238b25a-resized.jpeg"/></div></figure><p>An accompanying chart showed the daily taker buy/sell ratio with a seven-day simple moving average. </p><p>Crazzyblockk acknowledged that Binance’s crypto market presence arguably makes its ratio data the most pertinent.</p><p>“The taker buy/sell ratio is a key indicator of market sentiment, and with Binance's prominent position in the crypto space, these shifts in the ratio could signal larger changes in Bitcoin's price trend,” the post added.</p><p>The data did not go unnoticed by the wider crypto trading community, with YouTube host Kyle Doops among those hoping for the return of BTC price upside. </p><p>“Could this be the start of a broader price move?” he queried on X. </p><p><strong>Binance users choose to hodl</strong></p><p>In another positive sign from Binance, inflows of BTC into traders’ accounts are maintaining a steady downtrend.</p><p>Daily total BTC inflows currently average around 6,000 BTC, CryptoQuant data shows, around a 75% decrease from the recent peak seen in November.</p><p>“This decline suggests that selling pressure is easing, as investors appear more inclined to hold their Bitcoin rather than sell it,” contributor Darkfost summarized in another Quicktake post. </p><p>“By looking at Binance's Bitcoin netflows, we can observe that outlows continue to dominate but the netflow volume has remained relatively flat in recent days.”</p><figure><div><img src="https://imageproxy.pbkrs.com/https://s3.tradingview.com/news/image/cointelegraph:923ab784f094b-198610f12777bd3a2c6e764bb45b3c43-resized.jpeg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="1067" height="600" original-src="https://imageproxy.pbkrs.com/https://s3.tradingview.com/news/image/cointelegraph:923ab784f094b-198610f12777bd3a2c6e764bb45b3c43-resized.jpeg"/></div></figure><p>Darkfost considered the odds of a “more balanced market” resulting from traders’ hesitancy to engage in further profit-taking at current levels.</p><p>“If this trend persists, it may lead to a period of consolidation or a renewal of bullish momentum,” the post concluded.</p><p>This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.</p></div></div>

GBTC

<p>Bitcoin is facing potential volatility as the US Presidential inauguration approaches, with key price levels around $90,000 and $96,000. The Federal Reserve's stance on interest rates and inflation data will significantly impact market sentiment. The US dollar's strength is at a two-year high, posing challenges for crypto assets. Traders are closely monitoring liquidation levels and macroeconomic indicators, with expectations of a retest below $90,000. The upcoming CPI and PPI data will be crucial for the Fed's interest rate decisions, affecting capital inflows into crypto and stocks.</p>

Cointelegraph

Grayscale Bitcoin Trust BTC - ETF

Strongest US dollar since 2022 bear market: 5 Things to know in Bitcoin this week