As of January 11, 2025, Bitcoin (BTC) is trading at approximately $94,212, reflecting a modest increase from the previous close. Over the past week, Bitcoin has experienced a decline of about 4.7%, dropping from a recent high of $110,000 to its current level. Several factors have contributed to this movement: 1. Rising U.S. Treasury Yields: The 10-year Treasury yield has climbed to 4.793%, its highest since November 2023. Higher yields often lead investors to shift funds from riskier assets like cryptocurrencies to more stable investments, exerting downward pressure on Bitcoin's price. 2. Strong Employment Data: Recent reports indicate that 256,000 jobs were added in December, surpassing expectations of 153,000, with the unemployment rate decreasing to 4.1% from 4.2% in November. This robust job market suggests that the Federal Reserve may slow down or pause interest rate cuts, which can negatively impact risk assets, including Bitcoin. 3. Technical Market Patterns: Analysts have observed a shoulder-head-shoulder pattern in Bitcoin's price chart, indicating a potential shift from a bullish to a bearish trend. If Bitcoin breaks below the key support level around $90,680, it could potentially decline further to approximately $73,000. Additionally, there is speculation about the U.S. government's potential sale of Bitcoin seized from illicit activities, which could introduce additional supply into the market and apply further downward pressure on prices. Conversely, some investors remain optimistic due to anticipated crypto-friendly policies from the incoming Trump administration, including the establishment of a Strategic Bitcoin Reserve. Such initiatives could bolster market confidence and drive demand. In summary, Bitcoin's recent price movements are influenced by a combination of macroeconomic factors, technical market patterns, and policy expectations. Investors should closely monitor these developments, as they are likely to continue impacting Bitcoin's performance in the near term.
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Hpotografer
ยท 01-11 12:33
We can all do it ๐ช
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Ygazoz77
ยท 01-11 08:15
To Da Moon ๐To Da Moon ๐To Da Moon ๐To Da Moon ๐To Da Moon ๐To Da Moon ๐To Da Moon ๐To Da Moon ๐To Da Moon ๐To Da Moon ๐To Da Moon ๐
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Yeni78
ยท 01-11 08:06
To Da Moon ๐To Da Moon ๐To Da Moon ๐To Da Moon ๐To Da Moon ๐To Da Moon ๐To Da Moon ๐To Da Moon ๐To Da Moon ๐To Da Moon ๐To Da Moon ๐To Da Moon ๐To Da Moon ๐To Da Moon ๐
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As of January 11, 2025, Bitcoin (BTC) is trading at approximately $94,212, reflecting a modest increase from the previous close.
Over the past week, Bitcoin has experienced a decline of about 4.7%, dropping from a recent high of $110,000 to its current level. Several factors have contributed to this movement:
1. Rising U.S. Treasury Yields: The 10-year Treasury yield has climbed to 4.793%, its highest since November 2023. Higher yields often lead investors to shift funds from riskier assets like cryptocurrencies to more stable investments, exerting downward pressure on Bitcoin's price.
2. Strong Employment Data: Recent reports indicate that 256,000 jobs were added in December, surpassing expectations of 153,000, with the unemployment rate decreasing to 4.1% from 4.2% in November. This robust job market suggests that the Federal Reserve may slow down or pause interest rate cuts, which can negatively impact risk assets, including Bitcoin.
3. Technical Market Patterns: Analysts have observed a shoulder-head-shoulder pattern in Bitcoin's price chart, indicating a potential shift from a bullish to a bearish trend. If Bitcoin breaks below the key support level around $90,680, it could potentially decline further to approximately $73,000.
Additionally, there is speculation about the U.S. government's potential sale of Bitcoin seized from illicit activities, which could introduce additional supply into the market and apply further downward pressure on prices.
Conversely, some investors remain optimistic due to anticipated crypto-friendly policies from the incoming Trump administration, including the establishment of a Strategic Bitcoin Reserve. Such initiatives could bolster market confidence and drive demand.
In summary, Bitcoin's recent price movements are influenced by a combination of macroeconomic factors, technical market patterns, and policy expectations. Investors should closely monitor these developments, as they are likely to continue impacting Bitcoin's performance in the near term.