Jan 14, 2025
0 0
Bitcoin Falls to Lowest Price in Over a Month at $90,300
Bitcoin (BTC) opened the week with a decline, reaching a low of $90,300, its lowest since November 18. It fell by 5.8% after a weekend where it fluctuated between $93,700 and $95,900.
Key Points on Bitcoin's Performance
- Bitcoin needs to close above $91,000 to confirm recovery.
- Analyst Rekt Capital noted BTC's price deviated below the Range Low support of $91,000.
- A daily close below $91,000 may lead to a drop into the $87,000-$91,000 range.
- Historically, January has shown bearish tendencies for Bitcoin, with seven out of ten years starting in red since 2013.
- February typically sees market recovery.
Potential Price Movements
- Analysts expect one last liquidation wick before a potential reversal.
- Short positions have increased, which could push prices lower before a rebound.
- Similar patterns observed in previous years suggest a possible correction to $87,000 followed by consolidation.
Currently, BTC is trading at $91,700, reflecting a 2.9% decline in the daily timeframe.
