Bitcoin is up 1% on Tuesday after weaker U.S. unemployment data revived expectations of the Federal Reserve delivering another rate cut in January.
Notable Statistics:
- Coinglass data shows 110,839 traders were liquidated in the past 24 hours for $282.47 million.
- SoSoValue data shows net outflows of $357.7 million from spot Bitcoin ETFs on Monday. Spot Ethereum ETFs saw net outflows of $224.8 million.
- In the past 24 hours, top losers include MemeCore, Aster and Pump.fun.
Notable Developments:
- Binance To Rival Polymarket, Kalshi With Zero-Fee Prediction Market
- Bitcoin’s Fundamentals Look Good, But Here’s Why It (Currently) Doesn’t Matter
- Ethereum Slides Below $3,000, But This Is A Time To Buy, Not Sell, Traders Say
- Quantum Computing Will Not ‘Meaningfully’ Influence Crypto Prices, Including Bitcoin, In 2026, Predicts Grayscale
- Why The Bitcoin ‘Santa Rally’ Could Begin With A Flush To $80,000
- Visa Takes Another Major Step In Stablecoin Payments Strategy
Trader Notes: Crypto technical analyst Kevin said Bitcoin is behaving as expected in the late stages of a major correction. On the 3-day chart, BTC appears to be in the second phase of building a durable bottom, a slow and uncomfortable process.
Current signals suggest a high probability that a bottom is forming, with a countertrend bounce likely within the next five weeks toward former support levels now acting as resistance.
Daan Crypto Trades pointed out a striking day-of-week anomaly: nearly all of Bitcoin's upside this year has occurred on Wednesdays, while most downside has been concentrated on Thursdays and Fridays. The remaining days have been largely flat on average.
Ted Pillows noted Bitcoin is currently trapped between two major liquidity pools, downside liquidity around $85,200 and upside liquidity near $91,000.
With the Bank of Japan's interest rate decision approaching, a known catalyst for downside volatility, BTC could first sweep the November lows before any meaningful reversal takes place.
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