Bitcoin (BTC) gradually traded in the last week of January in a better situation after setting the maximum weekly closing price in five months

Despite the boycott, this largest cryptocurrency still maintains the strength of exploration and discovery, and continues to surprise investors.

This is not a great creation - hot plates can scare it and trigger investors to re-examine it. The macro standard is still uncertain, but in the internal structure of Bitcoin, the research found that the dolphins in the exchange may use a lot of liquidity to artificially move the price.

Even so, Bitcoin has already seen the most impressive percentage increase in more than a year, and we still hope that the happy time will continue. What mainly depends on?

CoinTelegram cares about some key factors in January, which is different from any other January.

Bitcoin investment analysts hope to "again"

Bitcoin has achieved 40% profit in just three weeks. Therefore, Bitcoin faces great suspicion, which is no longer secret.

For a long time, the attention of the regulation to significantly adjust and sustain the bear market in the stock market has been publicly announced. Some conservative traders claim that the macro bottom has not come.

However, this turning point has not been completed. At the close of the market in the recent week, the BTC/USD trading price was slightly higher than $22700, creating the best performance so far this summer.

Since then, this pair of components will be combined at the beginning of Monday and maintained for a long time within a sample week.

The trader, Credible Crypto, summed up the market outlook in the short term: "The bottom level is sweeping and the top level is going up, which is the best time to maintain safe operation before continuing to rise.".

Reliable cryptocurrencies are some of the rising characteristics of the market. Not worrying too much about all the behaviors may only be the mitigation of rebound in the broader bullish structure.

"The total market value has reached the daily average of 200 days," EightCEOMicha ë l van de Poppe, a soft writer and online trading platform of Cointraft, added at the weekend that he was also cheerful, referring to the index numerical average system.

"The good sign of cryptocurrency seems likely to happen again. It will continue to rise to US $25000 or adjust to US $195000. Again ->maintain the top of the 200-day average and increase resistance. The 200-day average will become a breakthrough."

According to the information of CoinTelegram Markets Pro and TradeingView, at the time of writing this article, the daily average of 200 days was $21056.

A more conservative assessment of the situation is mainly reflected in the composition of the exchange order book.

In the latest study, Material Indicators emphasized that with the arrival and retreat of Binance's important bidding and circulation industry, the market price of BTC has increased and decreased.

A part of the post said: "BTC's purchase of the wall at 20200 has been moved to promote the price increase and detect the resistance on the development trend.".

"I don't trust this $22 million physical line, but I'm very happy to trade behind them."

Another post is to double the previous one, that is, the price action is "carefully arranged" and does not care about the industry dynamics around, especially the collapse of the data encryption credit company Genesis Trading.

"Most of them have not changed, but BTC has detected the macro resistance. In addition, some large organizations in the cryptocurrency field are going bankrupt. It is likely that there is nothing," Material Indicators wrote on Twitter.

Macroscopically optimistic attitude slowly warms up

Macro analysis shows that there are similar differences among participants in the encryption market.

As the Federal Reserve of the United States will make the latest decision to raise interest rates on February 1, insiders are explaining the decline of inflation rate in more and more ways.

In addition, although the World Economic Forum in 2023 was resisted by some cryptocurrencies, it could not significantly weaken the hot spots.

For Dan Tapiero, founder and CEO of 10T holding company, this is just a difficult problem. How will high-risk property treat the changing fashion trend when the Federal Reserve meeting releases the pressure on fiscal policy in the future.

"When inflation is less than 0, what will the Fed think of it? BTC ETH gold is about to usher in a long good year," she told Twitter fans.

"The US dollar bears millions of dollars, with 10 years of less than 3%, to support the inevitable trend. Without any government support, the digital currency ecosystem (DAE) has developed rapidly with the rise of settlement prices. Market transactions have been fully developed!"

This view is significantly different from other popular views, especially the prediction made by Arthur Hayes, the former CEO of BitMEX last week. He warned that before the recovery began, the dependence of the Federal Reserve meeting on the annual interest rate would cause serious losses to the cryptocurrency.

In addition, reliable data encryption also believes that there is no reason not to be optimistic about risky assets.

On January 23, she asked: "With inflation continuing to decline for six months, the rate of interest rate increase will slow to 25 percentage points. In addition, SPX dollars have been a perfect retest of the previous Athens Olympic Games and are ready to look up again. What is the end of all this anxiety and anxiety?".

At the same time, in the last week of this month, the release of US macro data included various hidden short-term sales market opening factors.

It mainly includes the rapid growth of GDP on January 26 and the personal consumption expenditure (PCE) index value on January 27.

DXY faints because it can't be seen from this

From a macro perspective, the fate of the US dollar this week deserves special attention.

With the rebound of the cryptocurrency market, the strength of the US dollar has collapsed, and it quickly lost its advantages in the process of soaring to a 20-year high last year.

The US stock index (DXY) is generally inversely proportional to the main performance of risky assets, and Bitcoin is sensitive to important fluctuations.

At this stage, DXY is trading around 101.7, and has tried 101.5 for the second time this week, exceeding the end of six months. After the loss of support at the end of November, the 200-day average system of the index has been resistance since then.

The entrepreneur and cryptocurrency commentator "Coosh" Alemzadeh said next to a data chart comparing the performance of DXY, Bitcoin and Nasdaq on Sunday: "There is not much else to tell you what will happen next. The biggest single extrusion molding in the sales market so far is in us.".

The decline of the US dollar against China's bonds also attracted the attention of popular investment analyst TechDev, who pointed out that within one year after China's 10-year bond volume reached an important level, the idea of Bitcoin will reach its peak.

Caleb Franzen, a high-end investment analyst at Cubic Analytics, added: "The US stock index DXY reached its lowest level in many months after being extremely rejected at the cloud end of the 200-day moving average system in the horizontal support/resistance range.".

"That rejection was the moment when I realized and accepted that the trend was biased downward."

The index value on the chain gets rid of the bottom

Bitcoin is indeed in the process of revitalization, and the data information on the chain has been completed.

Compiled by Glassnode, an analysis company, several traditional indicators of the physical condition of the Bitcoin sales market are now withdrawing from its surrender zone.

It is not surprising to take full account of the 40% increase this month, mainly including the gain and loss of BTC supply.

At present, the net unrealized profit/loss (NUPL) has exceeded its minimum limit and is developing towards a stronger income, although it is significantly not reduced as in the previous bear market stage of the stock market.

As determined by Glassnode, this applies to short-term holder (STH) or long-term holder (LTH) NUPL. These two kinds of Bitcoin investors have been described as owning coins less than or even more than 155 days of physical line.

The same rise refers to the market value and realized value Z score of Bitcoin (MVRV-Z), which considers "the proportion of the difference between the market value and the realized market value, and the standard deviation of the market value database at all historical times, namely (market value – realized market value)/standard deviation (market value)", or "when the relativity of Bitcoin is too high/too low in its' investment real estate '", Glassnode explained.

MVRV-Z has left the emerald green "undervalued" area for the first time since the temporary surge in early November, and there has also been the first such measure since the collapse of FTX.

Philip Swift, founder of the trading module Decentrator, confirmed last week that "MVRV Z-Core has just delayed itself from the emerald accumulation zone.".

Bitcoin digging hash rate, difficulty coefficient set a record high

Now is the time to adjust the difficulty of the Bitcoin Internet. This week, it will maintain the existing historical time higher.

According to the possibility of BTC.com, the difficulty coefficient will increase by about 0.5% after six days.

This will add a big cherry on the cake to the mining industry that has entered a major change. Although the price is relatively low recently, the mining competition intensified this month, which increased the working pressure of those who could not manage the cost at the lowest standard.

Glassnode also showed that the total output of BTC held by mining decreased compared with 30 days ago. It was at that time that the price gradually increased.

At the same time, the original record of MiningPoolStats has also made the hash rate of Bitcoin (the possibility of processing capacity dedicated to coin digging) reach a record high.