Bitcoin (BTC) 
$78,415 price is currently above $99,000, yet the anticipated surge in the cryptocurrency market has yet to begin. With the U.S. markets set to open shortly, this week holds significant developments that could increase volatility in cryptocurrencies. News expected on Wednesday and Friday might provide the momentum needed for the market.
Insights from QCP Capital
QCP Capital provides an overview of the market, allowing a broader perspective on the trends affecting cryptocurrencies. Today, MicroStrategy announced a new BTC purchase, and as of this writing, the typical Saylor dip had not yet begun. Will the market delay, or will they catch news-driven traders off guard this time?
In their assessment today, QCP Capital experts noted:
“We are starting the week positively as BTC aims for the $100,000 mark. The cryptocurrency is once again facing a significant selling wall, a level where selling pressure intensified in December.
Will BTC break through the $100,000 level again? When this key level was first surpassed on December 5, funding soared above 60%. However, this time, funding levels remain stable, and we do not expect significant pressure in the near term. Unlike previous instances, we are unlikely to see any catalysts related to Trump before his January 20 inauguration. Frontend volatility remains soft, indicating a neutral sentiment.
With no cryptocurrency-specific catalyst on the horizon, this Friday (January 10) will focus on the first U.S. employment report of the year. However, expectations for Friday’s NFP will tighten throughout the week following the JOLTS hiring numbers and ADP announcements on January 7.”
Critical Times for Cryptocurrencies
As January 20 approaches, we will likely see more details regarding Trump’s economic policies. More explanations and data will surely lead to increased volatility. A key issue in cryptocurrency markets is BTC’s inability to sustain levels above six figures. This situation misleads many to believe that corrections are likely below $86,000.
The trend remains upward, and cryptocurrency investors hold the necessary conditions for further increases. Perhaps we should consider celebrating the days ahead when regulatory pressure on crypto decreases, caring less about short-term fluctuations?
