When will #荣誉积分新年抽奖，赢Macbook、精美周边等好礼！ BTC break through the big pump? BTC starts a week of oscillation, and the crypto market is in a slump.

At the beginning of this week, BTC plummeted to the key $100,000 mark, and the global crypto market was instantly shrouded in heavy selling pressure. This big brother in the crypto field, the price has been falling all the way, approaching $99,000. This kind of decline is like knocking down a row of dominoes, triggering investors to cash out frantically, even long-term holders are selling and leaving.

Market data shows that in the past 24 hours, the price of BTC has plummeted by 5.4%, falling to $99359. Meanwhile, the altcoin market is even more dismal: Solana has plummeted by 12%, Dogecoin has dropped by 11%, Cardano has slid by 10%, and Sui has plummeted by a whopping 13%. The total value of the crypto market has also shrunk by 5.4%, dropping to $3.42 trillion, presenting a bleak picture overall.

Technical indicator warning, unclear market outlook

Technically speaking, BTC seems to be stuck in the mud and unable to break through the resistance level of $105,000, thus embarking on a downward path. It not only fell below the important 200-day moving average, but also struggled around $100,000, trying to find support. The relative strength index (RSI) is also running wildly towards the oversold zone, which undoubtedly warns that the selling pressure in the market will continue in the short term, and the hope of a rebound is very slim.

Analysts pointed out that the uncertainty in the market has increased significantly due to the Federal Reserve's interest rate decisions and the new economic policies under the leadership of Donald Trump. Once BTC fails to hold the key level of $100,000, the price is very likely to continue to probe down to $96,000.

The altcoins are collectively losing value, and investors are flocking to safe havens.

Under the shadow of BTC's decline, cryptocurrencies have not been spared. The price of Ethereum fell by 6% to $3020, and alternative coins with higher market value suffered even greater losses, with a drop of over 10%. The total trading volume in the crypto market reached $103.6 billion, with stablecoin transactions accounting for as high as 89.57%. This clearly indicates that investors are frantically fleeing from risky assets and seeking the safe haven of stablecoins.

Long-term investors selling off, market stability impacted

The selling pressure on BTC this time is largely due to the selling of long-term investors. Blockchain data shows that long-term investors (LTH) have sold a large amount of BTC in recent days, which undoubtedly brings greater impact to the already fragile market stability. With the selling of LTH, the activity indicator of BTC has risen sharply, and the "coin days destroyed" indicator has also significantly increased, which means that those long-term "dormant" BTC assets have been awakened and put into the market.

Bulls and bears intertwined, the price trend becomes a mystery

For BTC, the $100,000 mark is both a psychological barrier and an important technical support. Once breached, the price may plummet to $96,000. $105,000 is a difficult hurdle that BTC must overcome to regain its momentum. Experts believe that if the market improves, BTC is expected to stabilize at $105,000 and start a new round of upward trend, even reaching the historical high of $109,699. However, considering the current selling pressure and the macroeconomic situation, BTC price is likely to enter a short-term consolidation phase.
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