Bitcoin went through a roller-coaster session. Two days ago, the crypto market saw BTC oscillating around the $90K level, triggering nearly $300 million in liquidations during U.S. equity hours. Yesterday, the European Parliament froze EU-U.S. trade talks, sending both stocks and crypto lower. But Trump flipped sentiment at the Davos forum by ruling out military action on Greenland and announcing a cooperation framework with NATO chief Rutte, which shelved February tariffs on Europe. The rally fizzled late after reports that Hassett would not become the next Fed chair.
$88K Becomes the Short-Term Lifeline
The hourly chart shows the wild swings. After the U.S. close, BTC hovered around $90K before slipping again overnight. Analysts expect consolidation near this level. The Bank of Japan's rate decision today is widely expected to hold steady, but traders will parse the press conference for hawkish signals—a possible headwind for risk assets.
BTC has repeatedly failed to break the $98K resistance, entering a downtrend. The immediate support to watch is $88K. Losing it could trigger a rapid slide toward $82K or even the long-term support at $80K. With global politics unsettled and the crypto market driven almost solely by the "U.S. narrative," sentiment remains tethered to Trump's next move.
Disclaimer: This article is for informational purposes only and does not constitute investment advice.