{"id":52335,"date":"2025-01-12T01:36:00","date_gmt":"2025-01-12T01:36:00","guid":{"rendered":"https:\/\/cointelegraph.com\/news\/bitcoin-below-20-ema-pullback-after-94-k"},"modified":"2025-01-12T10:04:32","modified_gmt":"2025-01-12T10:04:32","slug":"bitcoin-consolidates-below-20-day-ema-deeper-pullback-after-94k","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=52335","title":{"rendered":"Bitcoin consolidates below 20-day EMA, deeper pullback after $94K?"},"content":{"rendered":"

The price of Bitcoin (BTC) fell to around $94,000 on Jan. 11 \u2014 down by over 8.5% over the past five days from a local high of over $102,000 recorded on Jan. 7.<\/p>\n

BTC is currently trading below its 20-day exponential moving average (EMA) \u2014 a sign that bears are currently in control. Price has also been consolidating since Dec. 19, 2024.<\/p>\n

The Relative Strength Index (RSI) is trending down and is currently at 45, which is neither oversold nor overbought, but has fallen by over 20% since Jan 6.<\/p>\n

Industry analysts have warned that Bitcoin and the crypto markets could suffer a correction around President-elect Trump’s inauguration on Jan. 20, as traders see it as a sell-the-news event, or promises of pro-crypto legislation are not met.<\/p>\n

\"Bitcoin
Bitcoin\u2019s current price action. Source: <\/em>TradingView<\/em><\/p>\n<\/figcaption><\/figure>\n

Related: <\/strong><\/em>Bitcoin needs ‘sharp bounce’ at $88K as S&P 500 echoes COVID-19 crash<\/strong><\/em><\/p>\n

President-elect Trump’s inauguration may trigger sell-off<\/h2>\n

In a Dec. 17 article, BitMEX co-founder and analyst Arthur Hayes cautioned crypto traders that the inauguration of Donald Trump as President of the United States could trigger a market-wide sell-off.<\/p>\n

Hayes wrote that investors would quickly dump crypto and equity positions that were purchased with the expectation of pro-crypto and pro-business policies from the second Trump administration.<\/p>\n

The analyst predicted that once investors realized that policies take a long time to implement and that Trump must pass favorable legislation in one year or less, this would trigger a massive sell-off.<\/p>\n

However, Hayes added that he was still bullish on the long-term price of Bitcoin due to macroeconomic factors like ballooning government debt and currency debasement worldwide.<\/p>\n

\"Bitcoin
Federal Reserve balance sheet shown as white line, compared to Bitcoin market cap, shown in gold. Source: <\/em>Arthur Hayes<\/em><\/p>\n<\/figcaption><\/figure>\n

An increase of up to $612 billion dollars in new liquidity injected by the US Federal Reserve could also make up for a potential regulatory disappointment from the Trump administration \u2014 helping drive the price of BTC higher during Q1 2025.<\/p>\n

Hayes’ warning was echoed by CryptoQuant CEO Ki Young Ju in a December 2024 social media post.<\/p>\n

Ju argued that Trump’s pro-crypto policies will depend on the United States’ economic standing and the value of the US dollar.<\/p>\n

The CEO said that the US dollar is currently gaining strength as a safe haven asset, used as a store of value worldwide.<\/p>\n

Moreover, Trump’s rhetoric of strengthening the US dollar and the US in foreign trade makes it improbable that he will establish a Bitcoin strategic reserve, Ju said.<\/p>\n

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<\/p>\n

Magazine: <\/strong><\/em>Bitcoin dominance will fall in 2025: Benjamin Cowen, X Hall of Flame<\/strong><\/em><\/p>\n

Check other news for today<\/span> and Please stand by..<\/p>\n

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\"\"<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The price of Bitcoin (BTC) fell to around $94,000 on Jan. 11 \u2014 down by over 8.5% over the past five days from a local high of over $102,000 recorded on Jan. 7. BTC is … Bitcoin consolidates below 20-day EMA, deeper pullback after $94K?<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":52337,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5651],"tags":[139,3812,5652,159,97],"class_list":["post-52335","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptonews","tag-bitcoin","tag-cryptonews","tag-emilynews","tag-hyipnews","tag-hyips","exalt-entry"],"yoast_head":"\nBitcoin consolidates below 20-day EMA, deeper pullback after $94K? - EmilyNews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/emilynews.com\/blog\/?p=52335\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin consolidates below 20-day EMA, deeper pullback after $94K? - EmilyNews\" \/>\n<meta property=\"og:description\" content=\"The price of Bitcoin (BTC) fell to around $94,000 on Jan. 11 \u2014 down by over 8.5% over the past five days from a local high of over $102,000 recorded on Jan. 7. 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