QCP: BTC faces huge selling pressure at the $100,000 mark

ChainCatcher message, QCP released a market analysis, Bitcoin has had a positive start this week, with prices approaching the $100,000 mark again, but it may face significant selling pressure, as this level experienced considerable selling pressure in December. Bitcoin first broke through this key level on December 5, when funding rates surged.

However, this time the funding rates remain at a healthy level, and we do not expect a large-scale short squeeze in the short term. Unlike before, considering that the relevant catalysts from Trump may not emerge until after his inauguration on January 20, it is unlikely that similar market-driving factors will appear at this time. Front-end volatility remains relatively mild, and overall market sentiment leans towards neutral.

Due to the recent lack of cryptocurrency-specific catalysts, the market will focus on the U.S. January non-farm payroll report this Friday (January 10). However, expectations for Friday's non-farm payroll report will be further confirmed this week through the JOLTS job openings data on January 7 and the ADP employment data on January 8.