Bitcoin Price Prediction: What’s Next For Bitcoin and Altcoin?

Bitcoin Breaches Psychological $100,000 Level

Bitcoin, the pioneer cryptocurrency has breached the psychological level $100,000. In the last 24 hours, BTC price almost dropped by 6% and trading below $99,000. The reason beyond the sell-off is the FOMC meeting which is to be held on 29th January and the Crypto market veteran Arthur Hayes predicts a "mini financial crisis" with Bitcoin price crashing to $70,000 before a mega rally ahead.

Altcoins Face Sharp Decline Amid Market Selloff

Today's cryptocurrency market selloff has driven altcoins like Ethereum (ETH), XRP, Solana (SOL), Cardano (ADA), and Dogecoin (DOGE) down by 5-10%. As the excitement surrounding Trump's inauguration fades, attention now shifts to the upcoming FOMC meeting, where the US Federal Reserve is set to reveal its decision on interest rates.

Arthur Hayes Predicts a $70,000 Correction

Arthur Hayes has announced a reversal in the release order of his essay series, with "The Ugly" set to be published tomorrow. In his forecast, he predicts a significant $70,000 to $75,000 correction in Bitcoin (BTC), the onset of a mini-financial crisis, and a subsequent return to aggressive money printing. He believes these factors will propel Bitcoin to an astonishing $250,000 by the end of the year.

Arthur Hayes Predicts

Massive Liquidations Highlight Market Volatility

According to Wu Blockchain, in the past 24 hours, a total of 254,486 traders were liquidated, resulting in a combined liquidation amount of $698 million. The majority of this, $651 million, came from long positions. The largest single liquidation occurred in the HTX BTC/USDT pair, with a value of $98.46 million. This highlights the significant market volatility and its impact on leveraged traders.

Market Impact of Deepseek's Innovation

As per Wu Blockchain, Bitcoin once dropped below $100,000 due to the Chinese AI company Deepseek creating a competitive product to OpenAI at very little cost. This development triggered a bearish sentiment towards Nvidia, which further dragged down the market.

Wu Blockchain

Bitcoin Consolidates Below $100,000

Bitcoin's price has been trading within a defined range after facing rejection from highs above $109,000. Following a strong surge marked by large bullish candles, the momentum appears to have stalled. Today, the BTC price has breached the psychological level and is trading below it. If Bitcoin price fails to cross $100,000 then a panic selling can be seen and the price can drop towards the $95,000-$92,000 level soon.

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