Bitcoin Drops Below $100K as Crypto Markets Slide, But TD Sequential Indicator Flashes a Buy Signal

Cryptocurrency prices slid on Tuesday as producer price pressures continued to impact the market.

Bitcoin dropped below the $100,000 mark, while ether fell below $7,000.

However, some crypto traders remained optimistic, suggesting that the consolidation phase could be followed by a market-wide bounce.

Here's a summary of notable statistics, developments, top losers, and trader notes for Jan. 11.

Notable Statistics:

Bitcoin dropped below the $100,000 mark on Tuesday, trading at $99,204 with a 24-hour loss of 1.03%.

BTCの方も10万ドルを割り込み9万9204ドルとなり、24時間で1.03％下落した。

Ether fell below the $7,000 level on Tuesday, trading at $6,990 with a 24-hour loss of 0.6%.

ETHの方も7000ドルを割り込み6990ドルとなり、24時間で0.6％下落した。

Cryptocurrency prices slid on Tuesday as producer price pressures impacted the market.

Bitcoin dropped below the $100,000 mark, while ether fell below $7,000.

However, some crypto traders remained optimistic.

Notable Developments:

Crypto trader Michael van de Poppe noted that the ongoing BTC chop could signal a consolidation phase.

He concluded, “Correction over? Expect a market-wide bounce, with the strongest altcoins bouncing back the most.”

Crypto chart analyst Ali Martinez pointed out that the TD Sequential indicator is flashing a buy signal on the BTC hourly chart.

If the $97,000 support holds, Bitcoin is likely to rebound.

However, if it falls below this level, it could drop further to $92,000.

More Crypto Online suggests that traders should focus on potential support breaks, treating levels as key decision points rather than making predictions.

A dip to $85,000 may be expected if support is lost, but aggressive trades should be avoided until a reversal signal confirms support.

Castillo Trading advises that with Inauguration Day just two weeks away, patience is crucial.

He recommends holding off on trades until a potential retest of the $93,527 level.

Although higher levels are the target, the recent selloff suggests a possible chop and gradual fade following the $100,000 rejection.

Top Losers:

The top loser in the top 100 cryptocurrencies by market capitalization was Ankr, which fell by 10.34% over the past 24 hours to trade at $0.069.

Ankr is a Web3 infrastructure provider that aims to make it easy for anyone to deploy and operate decentralized nodes.

The platform currently supports over 50 different blockchains, including Bitcoin, Ethereum, and Solana.

Trader Notes:

Crypto trader Michael van de Poppe noted that the ongoing BTC chop could signal a consolidation phase.

He concluded, “Correction over? Expect a market-wide bounce, with the strongest altcoins bouncing back the most.”

Crypto chart analyst Ali Martinez pointed out that the TD Sequential indicator is flashing a buy signal on the BTC hourly chart.

If the $97,000 support holds, Bitcoin is likely to rebound.

However, if it falls below this level, it could drop further to $92,000.

More Crypto Online suggests that traders should focus on potential support breaks, treating levels as key decision points rather than making predictions.

A dip to $85,000 may be expected if support is lost, but aggressive trades should be avoided until a reversal signal confirms support.

Castillo Trading advises that with Inauguration Day just two weeks away, patience is crucial.

He recommends holding off on trades until a potential retest of the $93,527 level.

Although higher levels are the target, the recent selloff suggests a possible chop and gradual fade following the $100,000 rejection.