The post Bitcoin Choppiness Index Signals Potential Trend Shift as Prices Hover Near $100,000 appeared on BitcoinEthereumNews.com.

Bitcoin (BTC) is currently navigating an unstable trading environment, with its “Choppiness Index” indicating a possible return to major price trends. Amid significant market activity, the cryptocurrency has been testing the critical support level around $100,000, reflecting the underlying volatility within the market. In light of recent events, it is noteworthy that the Bitcoin market faced pushback from sellers on Inauguration Day, which has led to a cautious outlook among traders, as they gauge future price movements against key psychological barriers. “The Bitcoin Choppiness Index is fully gassed, and ready to trend,” reported James Check, a prominent on-chain data analyst. Market Reactions to Inauguration Day and Price Pressures on BTC The market experienced heightened volatility during the recent inauguration of US President Donald Trump, with Bitcoin testing the substantial psychological threshold of $100,000. Despite the atmosphere charged with anticipation, the lack of mention of Bitcoin or relevant crypto policies led to a wave of selling pressure, frustrating bullish expectations. Data from CoinGlass indicated a staggering $500 million in liquidations within 24 hours, reflecting the susceptibility of long positions to rapid market shifts. Traders are now looking toward the mid to high $90,000 range for potential buying opportunities as they anticipate a bounce-back. Key Levels: Traders are eyeing both support at $96,000 and resistance at $108,000. Liquidity Sweeps: Market participants expect potential sweeps around $99,500 and $97,000 as liquidity becomes available. Understanding the Choppiness Index and its Implications for BTC Prices The Choppiness Index has traditionally served as a valuable indicator in assessing market momentum. According to Matthew Hyland, a respected trader and analyst, the Bitcoin market is currently at a critical juncture. The 10-day simple moving average (SMA) stands at approximately $99,969, acting as a pivotal threshold for Bitcoin’s next direction. Hyland elaborated that maintaining a position above this SMA…

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Filed under: News - @ January 21, 2025 8:25 am