2023

Bitcoin Slips from $90,000 as Stocks Get a Perfect Storm for New Highs
Bitcoin bulls are gradually losing their grip on support as a stubborn BTC trading range refuses to budge.
$90,000 is on the chopping block to start the week, and sellers look increasingly complacent as BTC price volatility grinds down to almost zero.
That could be the spark that ignites a short-term squeeze higher, analysis argues, as a large block of liquidity overhead makes $95,000 an attractive target.
What happens beyond that, however, is a guessing game. Some see a bull flag primed to break down, while optimists are already dismissing the idea that Bitcoin is at the dawn of its next macro bear market.
On the topic of macro, this week will get a sea of incoming US economic data, including some delayed by the government shutdown. That could provide fuel for risk-asset volatility, even as Bitcoin leaves its days of positive stocks correlation behind.
Zooming out, it’s little wonder that derivatives traders have nothing much to go on.
Downside risk is already priced in, per options data, while expectations of future volatility are headed lower after last week’s Fed interest-rate cut.
That could provide some relief to Bitcoin speculators at the end of a major capitulation phase that rivals the mood prior to the late 2023 surge past $30,000.
With the market all but stationary into Christmas, Cointelegraph takes a look at what traders expect for Bitcoin next.
Continue reading to discover five things they’re talking about this week.

Can a #short squeeze relieve Bitcoin bulls?
It isn’t looking good for $90,000 support after the weekly close pressured bulls.
As the Bitcoin trading range stays put, buyers’ lack of momentum is getting more and more obvious.
Could a classic short squeeze to $95,000 lift the mood, at least in the short term?

No #Bear market after all
No one wants a New Year’s Bitcoin bear flag, but the daily chart is still printing one.
Not everyone is fearing the worst, though. Some analysis sees a healthy support retest, not the start of a bear market.
Is April’s tariff reaction setup playing out all over again?

#cpi data meets “neutralized” inflation claim
It’s CPI week, and it’s finally time to see how inflation behaved during the US government shutdown.
President Donald Trump has gone on record to call inflation “neutralized,” but will markets see it that way?
For stocks, however, the future’s looking bright as financial conditions ease worldwide.

Eyes on #Japan volatility trigger
The Fed’s back injecting liquidity, and risk-asset traders aren’t seeing much room for volatility in the future.
Bitcoin options markets underscore that cooldown in the mood.
What could upset the emerging status quo? The Bank of Japan has some ideas.

Back to #2023
Bitcoin’s short-term holders remain under some serious pressure at current prices.
New research shows loss-making onchain transactions from speculators repeating behavior not seen in two years.
The cohort is acting like it did before BTC/USD surged past $30,000 in Q4 2023.

Source: Binance News / Bitdegree / Coindesk / Coinmarketcap / Cointelegraph / Decrypt

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