Bitcoin (BTC) Down to $101K Today, What's Up? 

Bittime - Bitcoin Price (BTC) experienced a significant correction on Sunday (January 26 2025 ET time / January 27 2025 WIB time), dropping to a daily low of $101,957 after previously setting an intraday record at $105,424. 

Massive Liquidation of Long Positions

This drop triggered a wave of $132 million worth of long position liquidations in the crypto derivatives market, with $128 million of that occurring in a four-hour span (2:00–6:00 p.m. ET / 2:00–6:00 a.m. ET). 

BTC futures open interest via coinglass.com

However, the overall crypto market capitalization remained at $3.5 trillion, despite a 2.56% drop in the last 24 hours.  

BTC to IDR price

BTC to IDR via Market Bittime

Price Dynamics and Dominance of Tether (USDT)  

At 08.00 WIB (27 January 2025), the price of Bitcoin was around $102,052 with a market capitalization of $2.04 trillion, down 1.7% against the US dollar. BTC's global trading volume in one day reached $21.8 billion, driven by intensive selling in the morning WIB session. 

In the derivatives market, total liquidations reached $371.94 million, including long positions in BTC, Ethereum and other crypto assets. Despite the weakness, open interest in the Bitcoin futures market is still high, exceeding $64 billion.  

Tether (USDT) continued to dominate crypto trading volume with $67 billion of the $83.94 billion total, cementing its position as the most liquid stable asset. Currently, Bitcoin controls 57.9% of the global crypto market capitalization, followed by Ethereum with a share of 11.1%.  

Read too How to Buy Bitcoin (BTC)

Market Sentiment: Between Greed and Caution  

The Fear and Greed Index released by Alternative.me was at 71, indicating a sentiment of "greed" among investors. Bitcoin price volatility at the end of January reflects the tension between bullish optimism and market uncertainty. 

On the one hand, selling pressure and liquidations indicate investor caution, while high trading volume and stable open interest signal confidence in the long-term outlook.  

Read too Bitcoin (BTC) Price Prediction: Comprehensive Analysis

What to Watch Out for?  

1. Critical Level: Monitoring the $101,000–$102,000 zone as short-term support, as well as resistance at $105,000.  

2. Volatility Triggers: Regulatory policies, whale movements, or global macroeconomic sentiment (such as US inflation) can influence momentum.  

3. Strategy Trader: Accumulation near support could be an option if bullish momentum returns, while a breakdown below $101,000 could potentially extend the correction to $99,000.  

Conclusion

Analysts advise investors to keep a close eye on technical indicators such as RSI and volume, as well as fundamental factors that may change market trends in the coming days. Pay attention to trading times: Large liquidation activity generally occurs in the morning WIB session (02.00–06.00 WIB), in line with the opening of the US market.

FAQ related to Bitcoin (BTC) Price Drop Article:  

1. What was the main cause of Bitcoin's price drop to $101,957?  

The decline in Bitcoin prices was triggered by intensive selling pressure and the liquidation of long positions worth $132 million in the derivatives market, especially in the 4-hour time frame (02.00–06.00 WIB). This correction came after BTC hit an intraday record of $105,424 earlier.  

2. What are the current market sentiment indicators?  

The *Fear and Greed* index is currently at 71, indicating a sentiment of "greed" (*greed*). However, high volatility reflects the tension between bullish optimism and caution due to liquidation risks as well as macroeconomic factors.  

3. What do investors need to monitor after this correction?  

Investors are advised to monitor critical levels such as the $101,000–$102,000 support and $105,000 resistance. Apart from that, external factors such as regulatory policies, whale movements and US inflation data also need to be monitored to anticipate further volatility.

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Reference

Jamie Redman, Bitcoin’s Sharp Descent Sparks $132M in Liquidations Amid Market Volatility, Accessed January 27, 2025

Author: IN