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BTC broke through $95,000 in the morning, and Ethereum rose above 3300. Pay attention to Wednesday's US CPI inflation data.
BTC was in widespread panic last week amid better-than-expected economic data in the United States, and prices quickly took a Nosedive. However, BTC hit a high of $95,947 earlier after a narrow range at the $94,500 level over the weekend. Whether it can stand above $95,000 is followed by the market. (Synopsis: The United States sells Silk Road 6.5 billion magnesium BTC to crush the market? Analyst: Don't panic if you sell OTC) (Background supplement: The US port strike crisis is lifted!) Docker raises 62% over next six years, full automation proposal ruled out) BTC tumbled lower last week amid an unexpectedly strong jobs report, dipping $92,000 at one point. However, selling pressure then seemed to fade and continued to oscillate in a narrow range at the $94,500 level over the weekend, peaking at $95,947 around 9:30 earlier. Tentatively quoted at $94,910 before the deadline, up 0.64% in the past 24 hours, investors are now closely following whether they can climb again after stepping back, analysts judge that if it can stand above $95,000, it is expected to become an important price level to pave the way for $100,000; On the other hand, failure to hold on to $92,000 may cause concern among investors and lead to a lower price adjustment. Ethereum breaks above $3,330 Ethereum moves similarly to BTC, but the Fluctuation is more dramatic. ETH peaked at $3,338 earlier, tentatively at $3,302 before the deadline, a small rise of 0.69% in the past 24 hours. Glassnode: New Demand Absorbs Selling Pressure Despite widespread panic across the encryption currency market and investors taking a wait-and-see mode due to Fed rate cut expectations being blocked, BTC has shown resilience. Glassnode pointed out earlier that the proportion of BTC assets (tokens with a maturity of less than three months) held by new investors has risen sharply, currently accounting for 49.6% of the network's liquidity, which has not yet reached the previous high of Bull Market, which also means that new demand has absorbed selling pressure. The proportion of BTC wealth held by new investors (aged < 3 million) has surged, and now accounts for 49.6% of the network's Liquidity. This means that sophisticated investors are already meaningfully allocating tokens in the rise trend, while new demand absorbs seller pressure. Focus of this week's economic data The most important data of the week is the US consumer price index (CPI) released on Wednesday, if there is another strong 1/14 (Tuesday) US: Producer Price Index PPI for December (compared with the same period last month), forecast 0.3%, previous value 0.4% 1/15 (Wed) UK: Consumer Price Index CPI (YooQ) for December, previous value 2.6% US: Core Consumer Price Index CPI for December (compared to the same period last month), -0.1% forecast, previous value 0.3% US: Consumer Price Index CPI for December (YoY Prior), 0.3% Forecast vs. 0.3% Previous US: Consumer Price Index CPI (YoNa) for December, 2.7% Previous US: Crude Oil Inventories, Previous -0.959M 1/16 (Thu) UK: GDP GDP for November (YoY Prior), -0.1% Previous - Eurozone: Germany Consumer Price Index CPI for December (YoY Prior), 0.4% Forecast - 0.2% US: December Core Retail Sales (YoY Month) 0.4% Forecast and 0.2% Previous US: Initial Jobless Claims, Previous 201K US: Philadelphia Fed Manufacturing Index for January, -16.4 Previous US: December Retail Sales (YoY Month) 0.5% Forecast vs 0.7% Previous 1/17 (Fri) China: GDP YoY Growth Q4, 5.1% Forecast vs. 4.6% Previous China: Industrial Production Index ( annualized rate), 5.5% forecast, 5.4% previous month Eurozone: Consumer Price Index CPI (annual growth rate) for December, 2.4% forecast, 2.2% previous Related stories Trump considers declaring a "US economic emergency" to start a new tariff policy, small non-farm payrolls are lower than expected to strengthen confidence in interest rate cuts Bombshell" The US Department of Justice approved the sale of 69,000 BTC seized by the Silk Road, will bring down the market? The number of bankrupt enterprises in the United States has reached a new high since the financial crisis! Wall Street: The risk of recession may detonate the pullback of U.S. stocks in the first half of the year "BTC broke through $95,000 in the early morning, Ethereum stood at 3300, follow Wednesday's U.S. CPI inflation data" This article was first published in BlockTempo "Dynamic Trend - The Most Influential Block Chain News Media".