K33 Analysts Predict Unpredictable Bitcoin Price Action Ahead of Inauguration
Recent analysis indicates potential positive momentum for Bitcoin following January 20. Key points include:
- Trading volumes increased by 51% last week, averaging $4.3 billion daily.
- Spot market volumes hit $6.5 billion on Monday, the highest since December 20, indicating strong buying activity.
- January 13 recorded the highest intraday volatility for Bitcoin, possibly due to profit-taking ahead of tax season.
- This past week saw an unprecedented pattern with 14 consecutive green hourly candles for Bitcoin.
- K33 analysts suggest that January 20 may not trigger a sell-off as previously anticipated.
- The current market environment is sensitive to interest rates and upcoming economic indicators, particularly Wednesday’s CPI report.
- A tactical de-risking strategy could be considered if prices rise significantly before the inauguration.
The market is expected to remain unpredictable in the coming days.