- Bitcoin (BTC) fell to $99,082.51 earlier than recovering to $100,193.79.
- BTC mining income dropped to $1.4 billion in January.
Bitcoin (BTC) fell beneath $100,000, reaching a low of $99,082.51. The cryptocurrency presently trades at $100,193.79, down 2.28% in 24 hours. Its market cap stands at $1.98 trillion, with a 24-hour buying and selling quantity of $34.22 billion, marking a 22.95% decline. The absolutely diluted valuation (FDV) is $2.1 trillion, whereas the volume-to-market cap ratio is 1.71%.
U.S. President Donald Trump signed an govt order imposing a 25% tariff on Canadian items, excluding vitality merchandise, which is able to face a ten% tariff. These duties take impact on Tuesday. Tariffs on Mexico and China will even be carried out. Bitcoin dropped to $100,279 following the announcement, reflecting market uncertainty.
Bitcoin’s mining income fell to $1.4 billion in January, down $40 million from December. Julio Moreno, head of analysis at CryptoQuant, reported that Bitcoin transactions hit their lowest stage since March 2024. Mempool utilization is low, with transaction charges dropping to 1 sat/vb. Over the weekend, unprocessed transactions decreased sharply, leaving a number of blocks partially empty.
Bearish Momentum Strengthens
Bitcoin faces fast resistance at $103,622 and powerful assist at $99,000. If BTC breaks above resistance, it might rally towards $106,000. A drop beneath assist could push it right down to $97,500. The Relative Energy Index (RSI) stands at 43.96, close to oversold territory. An extra drop might set off extra promoting stress, but when RSI rebounds above 50, a bullish reversal could start.
The Transferring Common (MA) crossover alerts bearish momentum. The 9-day MA is at $101,382.30, beneath the 21-day MA of $103,279.02. A bullish crossover, the place the short-term MA crosses above the long-term MA, would point out a pattern reversal.
The Chaikin Cash Move (CMF) suggests capital outflows from Bitcoin. The indicator stays in unfavorable territory, reflecting weak shopping for stress. If inflows enhance, Bitcoin might reclaim $105,000.
The MACD histogram is in unfavorable territory, with the MACD line beneath the sign line. This confirms the bearish pattern. A crossover above zero might point out renewed bullish sentiment.
