COINOTAG News reported on January 6 that QCP’s latest market analysis indicates a favorable week for crypto markets, particularly for Bitcoin (BTC), which is once again testing the critical $100,000 threshold. Historical trends suggest significant selling pressure at this level, especially observed in December. The question remains: can Bitcoin surpass this psychological barrier? The initial breach occurred on December 5, sparked by a rise in funding rates; however, current funding rates appear stable, signaling a diminished likelihood of an imminent short squeeze.
Market dynamics have shifted, as potential market catalysts related to political developments may not materialize until after January 20, coinciding with Trump’s inauguration. The current volatility remains moderate, with overall investor sentiment trending neutral. In the absence of recent motivating factors for cryptocurrencies, traders are zeroing in on the U.S. non-farm payroll report set for January 10. This key economic indicator will be informed by upcoming JOLTS job openings on January 7 and ADP employment data on January 8, providing essential insights for traders.