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Bitcoin price hovers around $97,000 on Wednesday after declining more than 5% the previous day. Ethereum price closes below the 50-day EMA support level at $3,446, indicating a pullback on the horizon. Ripple price could rally if it breaks above the upper symmetrical triangle boundary. Bitcoin (BTC) hovers around $97,000 on Wednesday after declining more than 5% the previous day. Ethereum (ETH) and Ripple (XRP) follow in BTC’s footsteps and decline 8.3% and 6.15% respectively. This recent pullback has triggered a wave of liquidations, resulting in over $560 million in total liquidations in the crypto, according to data from CoinGlass.$BTC

Amid the ongoing market crash, Popcat (POPCAT), the popular Solana-based meme coin, has lost its momentum and is poised for a massive price decline in the near future. At press time, the overall cryptocurrency market is experiencing a downturn, with top assets like Bitcoin (BTC), Ethereum (ETH), and others facing significant price declines. POPCAT Price Momentum This price decline has shifted market sentiment toward a bearish trend for POPCAT, as it failed to hold the crucial support level of $0.70, which it had maintained for nearly three weeks. Currently, POPCAT is trading below the $0.65 level, having experienced a price decline of over 17.5% in the past 24 hours. This significant price decline and the failure to hold crucial support have attracted the attention of investors and traders. It appears they are either selling off their positions or building short positions, as the meme coin shows bearish momentum. This activity has led to a 22% increase in trading volume during the same period. Technical Breakdown Signals 50% Crash Ahead According to expert technical analysis, the recent crash has caused POPCAT to not only break a crucial support level but also breach a prolonged consolidation zone that had formed around this support.$ETH $BTC

Bitcoin analysis blames “spoofing” for a snap BTC price correction of more than $4,000 in hours. Bitcoin shed 4% on Jan. 7 as “predictable” BTC price action put whales in the spotlight. Bitcoin “spoofing” sees price support disintegrate Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it dipped below $98,000. The move came amid macro reactions to US Job Openings and Labor Turnover Survey (JOLTS) data, which showed a hiring surge in a boost to the labor market. “Market catalyzed lower on JOLTS rising, however without initial jobless claims going up a rising JOLTS means one thing - JOB CREATION,” popular trader and YouTube channel host Matt Cowart responded in a post on X. “Excited to let the market fall today and back into longs tomorrow.” Fully reversing snap gains from the day prior, Bitcoin was at the mercy of large-volume traders as recently placed support disappeared. Reacting, Keith Alan, co-founder of trading resource Material Indicators, labeled the practice “spoofing” — the deliberate shifting of liquidity on order books by entities with large amounts of capital. “Spoofs are annoying, but they do tend to facilitate some predictable price action for Bitcoin,” he summarized.$BTC $XAI

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Today, Bitcoin (BTC) is navigating through a period marked by both volatility and significant market interest, particularly as we move into 2025. Here's a snapshot of the current insights based on recent market data and analysis: Price Action: Bitcoin's price has experienced some stabilization after a volatile end to 2024. The cryptocurrency has been noted for a pattern similar to previous years, with a strong push in October-November followed by more range-bound action in December. The current price structure resembles the early 2024 period, suggesting a potential for similar movements. Analysts are watching for Bitcoin to break above the resistance between $95,100 to $97,300 for new all-time highs; otherwise, it might continue in a choppy, range-bound market. Market Sentiment: There's a noted bullish divergence with RSI on daily charts, and the On-Balance Volume (OBV) indicates strength, which could support further upward trends. The market sentiment appears cautiously optimistic, with some analysts pointing to historical patterns and technical indicators like clear RSI divergence and retests of systematic trends for directional cues. Macro-Economic Influence: Bitcoin's price has been seen moving in sync with global M2 money supply with a lag, hinting at macroeconomic influences on its valuation. The current negative divergence in this correlation points towards a potential price target of $80,000 for Bitcoin. Technical Analysis: The daily range of Bitcoin has hit lower deviation and discount levels, which some interpret as healthy re-accumulation after a significant rally,