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Bitcoin price analysis: economic headwinds push price lower – CoinJournal

11 January 2025
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Bitcoin examined the $92,000 degree yesterday after falling from a weekly excessive of $102,000 as promote pressures mounted
Macroeconomic components trigger doubts concerning the market power as sticky inflation turns into a priority
Spot crypto ETFs logged massive outflows on Wednesday following the discharge of the Fed assembly notes

Bitcoin’s worth has fallen from a excessive of $102,667 reached on Tuesday, January 7 to $94,890.00 as of publishing, however stays inside the final H4 demand zone.

BTC/USD Chart by Buying and selling View

Whereas the demand zone between $92,000 and $97,000 will be the final assist degree on the H4 timeframe, a broader market view exhibits that BTC is in a premium zone on the every day timeframe. Consequently, a push beneath $92,000 nonetheless places the worth in bullish territory.

BTC/USD Chart by TradingView

One of the best technical purchase ranges would both be on the final break of construction on the every day timeframe or on the 50% Fibonacci degree from the bottom level to the break.

BTC/USD Chart by TradingView

There are two truthful worth gaps from which the worth may react. Whereas they aren’t main zones, they might assist a continuation again to the exterior excessive at $108,000 or a short aid rally earlier than continued promote to the primary possible assist zone as famous in a latest TradingView evaluation of BTC.

BTC/USD Chart by TradingView

That is all predicated on Bitcoin breaking beneath the $91,000 degree.

In the meantime, spot crypto ETFs recorded outflows on Wednesday, January 9 after the discharge of the US Federal Reserve’s assembly minutes. These confirmed that the Fed is cautious about inflation and the consequences of Trump’s incoming insurance policies.

BTC ETFs bled $568.8 million on Wednesday whereas ETH ETFs misplaced $159.4 million with the most important outflows from Constancy ($258.7 million for BTC and $147.7 million for ETH).

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  • bitcoinBitcoin(BTC)$115,172.00-2.94%
  • ethereumEthereum(ETH)$3,660.41-5.39%
  • rippleXRP(XRP)$2.96-5.74%
  • tetherTether(USDT)$1.00-0.01%
  • binancecoinBNB(BNB)$776.40-3.40%
  • solanaSolana(SOL)$169.33-6.48%
  • usd-coinUSDC(USDC)$1.000.00%
  • staked-etherLido Staked Ether(STETH)$3,654.68-5.56%
  • dogecoinDogecoin(DOGE)$0.206093-7.82%
  • tronTRON(TRX)$0.3257680.16%