📅 Wednesday, January 31, 2024
📊 Bitcoin Recap:
Range: #Bitcoin fluctuated between $42,655 and $43,882, aligning perfectly with yesterday's prediction.
Attempts: A push towards $44,000 was made but hit a wall between $43,700 - $43,800.
Current Movement: After dipping to the lower range overnight, Bitcoin is attempting a comeback to surpass $43,000.
💰 Market Overview:
Capitalization: Stands at $1.608 trillion.
Dominance Index: Slightly down by 0.23%, primarily due to Ethereum's climb nearing $2,400.
Bitcoin ETFs: Saw a rise of 0.71% by yesterday's close.
🔄 Altcoin Highlights:
Post-overnight drop, $ETH , $LINK , $ETC , RNDR, MKR, PENDLE emerged positively.
💸 Economic Indicators:
Dollar Index: Edging close to 103.5 is a concern for the markets.
10-Year Bonds Yield: A decrease here spells good news.
🔍 Corporate Spotlight:
Google's disappointing report led to a 5.7% drop in its stocks post-close, predicting a tough day ahead for the company's shares.
🏦 Federal Reserve Meeting:
However, commentary from the press conference might hint at future rate adjustments, possibly influencing Bitcoin as well.
📈 Today's Bitcoin Forecast:
Primary Scenario: Bitcoin expected to oscillate between $42,500 - $42,300 and $43,800 - $44,200.
Alternative Scenario: A potential dip below $42,300.
