Bitcoin has seen a decline to around $94,000 as of January 11, down over 8.5% from a local high of $102,000 on January 7. Currently trading below the 20-day exponential moving average (EMA), market indicators suggest that bears control the price. The Relative Strength Index (RSI) is at 45, showing a downward trend but not entering oversold or overbought territory. Analysts predict a potential correction around President-elect Trump's inauguration on January 20, viewing it as a sell-the-news event. BitMEX co-founder Arthur Hayes has cautioned that if expected pro-crypto policies are not enacted swiftly, a sell-off could occur as investors realize these policies take time to implement. Despite the bearish short-term outlook, Hayes remains optimistic about Bitcoin's long-term prospects, considering broader economic factors such as government debt and currency debasement. CryptoQuant CEO Ki Young Ju echoed similar sentiments, noting that strengthening dollar rhetoric makes it less likely for Trump to establish a Bitcoin reserve.

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