BTC/USD Forecast Today 28/01: Holds Near $100K (Video)
Date
1/28/2025 4:18:41 AM
(MENAFN- Daily Forex)
bitcoin falls pretty hard, but you can see that we have turned around to show signs of life. The Bitcoin market briefly dropped below the $100,000 level, but much of the recent sell-off seems unrelated to Bitcoin itself. Instead, it appears to stem from investors liquidating assets to cover losses in tech stocks, particularly Nvidia, amid the AI-driven turmoil caused by DeepSeek.
So, with that being said, I think you've got a situation where Bitcoin probably rallies from here, as the correlation between the two things will dissipate eventually.
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Although it might be noisy for the next couple of days, but I also would point out that we have a serious potential issue ahead of us with the Federal Reserve and the Bank of Canada, as well as the European Central Bank, all having interest rate decisions this week, and that could have a major influence on what happens next with monetary policy and therefore interest rate expectation. While that doesn't directly influence Bitcoin , it does have an external pressure, if you will, that is applied to Bitcoin due to the fact that it is a very risk on type of market.
EURUSD Chart by TradingView
That being said, we are in a long-term uptrend and have been consolidating for a while. So, I think we've got a situation here where you have to look at this as a potential buying opportunity on dips. And as long as you don't get overly levered, you should in general be okay. But remember last year, we saw seven months of sideways action. That might just be the norm for Bitcoin now. Accumulation makes the most sense at this point in time.
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