Bitcoin tested the $92,000 level yesterday after falling from a weekly high of $102,000 as sell pressures mounted
\nMacroeconomic factors cause doubts about the market strength as sticky inflation becomes a concern
\nSpot crypto ETFs logged large outflows on Wednesday following the release of the Fed meeting notes<\/p>\n
Bitcoin\u2019s price<\/a> has fallen from a high of $102,667 reached on Tuesday, January 7 to $94,890.00 as of publishing, but remains within the last H4 demand zone.<\/p>\n BTC\/USD Chart by Trading View<\/a><\/p>\n While the demand zone between $92,000 and $97,000 may be the last support level on the H4 timeframe, a broader market view shows that BTC<\/a> is in a premium zone on the daily timeframe. As a result, a push below $92,000 still puts the price in bullish territory.<\/p>\n BTC\/USD Chart by TradingView<\/a><\/p>\n The best technical buy levels would either be at the last break of structure on the daily timeframe or at the 50% Fibonacci level from the lowest point to the break.<\/p>\n BTC\/USD Chart by TradingView<\/a><\/p>\n There are two fair value gaps from which the price could react. While they are not major zones, they could support a continuation back to the external high at $108,000 or a brief relief rally before continued sell to the first probable support zone as noted in a recent TradingView analysis of BTC<\/a>.<\/p>\n BTC\/USD Chart by TradingView<\/a><\/p>\n This is all predicated on Bitcoin breaking below the $91,000 level.<\/p>\n Meanwhile, spot crypto ETFs<\/a> recorded outflows on Wednesday, January 9 after the release of the US Federal Reserve\u2019s meeting minutes. These showed that the Fed is cautious about inflation and the effects of Trump\u2019s incoming policies.<\/p>\n BTC ETFs<\/a> bled $568.8 million on Wednesday while ETH ETFs<\/a> lost $159.4 million with the biggest outflows from Fidelity ($258.7 million for BTC and $147.7 million for ETH).<\/p>\n The post Bitcoin price analysis: economic headwinds push price lower<\/a> appeared first on CoinJournal<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Bitcoin tested the $92,000 level yesterday after falling from a weekly high of $102,000 as sell pressures mounted Macroeconomic factors cause doubts about the market strength as sticky inflation becomes a concern Spot crypto ETFs logged large outflows on Wednesday following the release of the Fed meeting notes Bitcoin\u2019s price has fallen from a high […]<\/p>\n","protected":false},"author":0,"featured_media":2239,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-2238","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bitcoin"],"acf":[],"_links":{"self":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/2238","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/comments?post=2238"}],"version-history":[{"count":0,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/2238\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media\/2239"}],"wp:attachment":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media?parent=2238"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/categories?post=2238"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/tags?post=2238"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}