Bitcoin’s latest movements indicate a potential bottoming out of its price, amidst turbulent macroeconomic conditions and geopolitical uncertainties. As the market approaches the end of January, significant volatility persists, affecting not only Bitcoin but also broader financial markets.

1. Current Price Situation: Bitcoin ended the week below crucial support, heightening fears of additional declines.
2. Geopolitical Concerns: The focus is split between domestic factors and international trade complications.
3. Market Behavior: Short-term holders are exhibiting unprecedented levels of capitulation at the current price point.
4. Analysts’ Insights: Certain experts predict significant drops could follow unless critical support levels are maintained.
5. Market Liquidations: Nearly $750 million was liquidated in the past 24 hours, emphasizing market volatility.

Additional Observations

• The Federal Reserve’s upcoming FOMC meeting is expected to influence market dynamics as rates are anticipated to either remain unchanged or face scrutiny.
• Notably, precious metals continue to surge, with gold and silver reaching new highs, contrasting Bitcoin’s struggle to gain traction in this bullish environment.

Quote from Michaël van de Poppe: “Crypto is preparing for the worst, hence the deep selloff and that’s why I think coming week brings a generational opportunity across the board.”