Bitcoin hovered under $95,000 on January 11, experiencing significant volatility after US employment data impacted market sentiment. Initially declining to around $92,000, Bitcoin rebounded sharply, reaching new local highs, but then settled into a familiar short-term range. General risk assets also fell as the market adjusted its expectations regarding potential interest rate cuts from the US Federal Reserve in 2025. Notably, both the S&P 500 and Nasdaq Composite Index ended the previous day down roughly 1.5%. Some analysts, however, suggested that the reaction could favor bulls in the long run. Concerns were raised about Bitcoin's stability at a critical support level, with warnings that a drop to $88,000 could lead to a 5-10% decline in the crypto market without a significant recovery soon thereafter. Current readings on the total crypto market's relative strength index indicate it might be at a crucial trend support point. Overall, many in the market are watching for a potential upward trend in Bitcoin and altcoins in the upcoming days.

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