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Crypto 349

01/20 10:09

Bitcoin shows strength at $92K, but is the bottom

#CHECK: Token of Checkmate & Anichess #Join Nov. Creation to share of 1,000 USDT #Claim1,200 USDT in the Monthly Creation Challenge Bitcoin shows strength at $92K, but is the bottom in? Bitcoin is holding above $92,000, but spot ETF outflows and rising geopolitical tensions threaten to weaken the resistance. Will traders pile into the dip?The BTC futures premium held near 5%, showing leverage demand was not impacted after a failed $98,000 breakout attempt. Bitcoin ETFs saw $395 million in outflows as gold hit new records, weakening hedge appeal and pushing traders to price downside risk. Bitcoin BTC$91,003 faced a 3.4% correction over the weekend as investors cut risk following rising global sociopolitical tensions and China reporting its slowest economic growth since 2022. The retest of the $92,000 level caught bulls off guard, as $215 million in leveraged BTC futures longs (buys) were forcefully liquidated, fueling concerns that a deeper price correction could be underway.Nasdaq index futures traded lower on Monday after US President Donald Trump announced additional import tariff proposals targeting eight European countries, aimed at pressuring negotiations over Greenland’s acquisition, a territory controlled by Denmark. European nations are now discussing retaliatory measures on US product imports, according to Yahoo Finance. Weak BTC derivatives flag fading interest and hedge appeal Investors sought safety in cash positions and precious metals as US markets remained closed on Monday due to a national holiday. The Euronext 100 Index declined 1.6%, while gold prices surged above $4,650 for the first time. As a result, even though Bitcoin quickly reclaimed the $93,000 level, the broader market continues to view cryptocurrencies as risk-on assets rather than alternative hedges.The Bitcoin futures’ annualized premium (basis rate) hovered near the neutral-to-bearish 5% level, indicating that demand for leveraged bullish positions was not affected by the fa
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