Bitcoin is currently trading in a range between $84,000 and $94,000, showing signs of stabilization after recent sell-offs.
Market sentiment is leaning toward "cautious," with prediction markets placing only a 10% chance of hitting $100,000 before February.
Institutional demand remains the primary driver, though many large-scale buyers have exhausted their immediate purchasing power.
Technical indicators suggest a potential "relief rally" in early February, which could briefly push the price back toward $97,000.
A critical support level is holding at $83,000; breaking below this could lead to a deeper correction toward $75,000.
Macroeconomic factors, including Federal Reserve signals and geopolitical shifts, continue to dictate short-term price swings.
The "sell-the-news" sentiment from earlier in the month has cooled, allowing for more organic price discovery.
Traders are closely watching the 50-week moving average, which is acting as a strong resistance point for any upward movement.
Regulatory clarity from the recently passed GENIUS Act is providing a long-term safety net, but short-term volatility remains high.
The next 15 days are expected to be a period of reaccumulation, where the market builds a base for its next major move.$BTC
