Bitcoin recovers to $99,000 on low-price buying

BTC, Inflows of Physical ETF in the US and Morning Buying Pressure Lead to Rebound
Altcoins Record Higher Gains Following BTC's Rise
10X Research: "'Trump Rally' May End Soon"

BTC recovered to $9,900 this morning due to the inflow of low-price buying pressure.

After recording $10,000 last month, BTC maintained the early $9,000s, but rebounded due to the inflow of BTC physical ETF in the US and low-price buying pressure.

On the 3rd (local time), the BTC physical ETF in the US recorded a net inflow of about $981 million. This is much larger than the net outflow of $242.3 million on the first day of the new year.

BTC, which had been gradually rising on the weekend, finally broke through $9,900 this morning and maintained the upward trend.

With the rise of BTC, many altcoins recorded higher gains than BTC.

◇BTC = As of 4 pm on the 6th based on Upbit, the price of BTC is 14.64 million won. BTC dominance is 57.20%.

According to on-chain analysis platform Glassnode, the long (bullish) and short (bearish) betting ratio in the BTC futures market is 48.87% and 51.13%, respectively.

It was suggested that the 'Trump Rally' following the inauguration of President Trump may end soon, and BTC may not rise significantly as expected.

Cryptocurrency market analysis firm '10X Research' said the 'Trump Rally' that cryptocurrency investors are expecting may end soon due to the Federal Reserve's (Fed) decision to delay interest rate cuts.

The report stated that "January is expected to have a positive start despite volatility, but the rally momentum may weaken quickly afterwards" and "the market is likely to decline around the FOMC press conference on the 29th".

10X Research pointed out that the Fed is a 'major risk' that will disrupt the BTC rally in 2025.

The report said, "While inflation is expected to be lower this year, it will take time for the Fed to officially recognize and respond to this change," and "BTC's price is expected to be around $97,000-$98,000 by the end of January".

◇Rising Coins = As of 4 pm on the 6th based on Upbit, the cryptocurrency that recorded the largest gain compared to the previous trading day was Tokamak Network (TOKAMAK), which rose about 34%.

Tokamak Network is a Layer 2 network platform. It supports interoperability through cross-layer message protocols, deploys custom Layer 2 networks, and supports all types of Layer 2 protocols.

Tokamak Network can be used for DeFi, Non-Fungible Tokens (NFTs), and various blockchain projects based on liquidity and low cost. It is particularly noted for its technology and compatibility among developers and business groups.

The Tokamak Network token used in the Tokamak Network is used for fees, Staking, and rewards. The Tokamak Network token is used for governance rights, chain creation through Staking, and as a means of reward.

◇Fear and Greed Index = The Cryptocurrency Fear and Greed Index provided by Alternative is 76 points, entering the 'Greed' stage. The Greed stage is a period of high price volatility and trading volume, where prices are rising. There is a high possibility of forming a short-term peak, so caution is required when selling.

The Cryptocurrency Relative Strength Index (RSI) provided by Glassnode is 67.4, recording a 'neutral' state. RSI measures the relative strength between the upward and downward pressure of a specific asset price, and indicates the overbought and oversold levels of a specific asset.

Reporter Kwon Seung-won ksw@blockstreet.co.kr