On January 20, Bitcoin (BTC) reached a new all-time high of $109,356. Following this surge, market analysts cautioned that latecomers could face significant unrealized losses due to a potential price reversal. Contributing to the volatility were expectations surrounding potential pro-crypto policies from incoming US President Donald Trump, with the odds of Trump creating a Bitcoin reserve reportedly rising to 60% on Polymarket. Despite bullish sentiments, analysts noted that substantial liquidity at the $110,000 mark posed challenges for buyers. The crypto market also saw significant unwinding of long positions, reflecting tensions surrounding the price movement. Influencers and traders suggested that undisclosed information may be influencing Bitcoin’s price, as discussions pointed to massive supply levels creating hurdles for bullish momentum. Overall, while the breakout was deemed clean, caution prevailed as new peaks were tested, creating potential exit liquidity for late buyers.

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