Price analysis 1/8: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, AVAX, SUI, LINK
Bitcoin’s sell-off shows no signs of forming a bottom, which is destroying traders’ appetite for altcoins.
Bitcoin (BTC) has pulled back near $95,000, indicating that the bears are trying to strengthen their position. A minor advantage in favor of the bulls is that the US spot Bitcoin exchange-traded funds witnessed inflows of $52.4 million on Jan. 7, even when Bitcoin fell more than 5%, per Farside Investors data. This suggests that investors are not dumping their positions as they expect the bull run to resume.
BitMEX co-founder Arthur Hayes said in a blog post that the addition of up to $612 billion in new liquidity in the first quarter of 2025 could benefit Bitcoin. That could counterbalance any delays in implementing the “proposed pro-crypto and pro-business legislation” by President-elect Donald Trump’s team.
Crypto market data daily view. Source: Coin360
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Author: Rakesh Upadhyay
