As Bitcoin approaches the US Presidential inauguration on January 20, traders are preparing for volatility. The BTC/USD pair remains rangebound, oscillating around $93,000 and faces potential downside risks, particularly below the $90,000 mark. Key levels for traders include $91,000 and a target of $96,600 for liquidations. This week also features significant macroeconomic data, particularly consumer and producer price indices, which the Federal Reserve will analyze ahead of their interest rate meeting at the end of the month. The US dollar is experiencing its strongest performance since late 2022, creating pressure on risk assets like cryptocurrencies. Observations suggest a weakening of Bitcoin sellers as on-chain metrics show increased buy demand. Additionally, Bitcoin inflows into Binance are decreasing, indicating that traders are more inclined to hold rather than sell their assets. These trends potentially set the stage for price movements in the coming weeks.

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