From January 27 to February 2, 2025, the price trend of Bitcoin showed significant volatility, and market sentiment repeatedly switched between long and short positions.
added that if Bitcoin breaks through the $105,000 level, it may continue to rise to the $108,000 area.
On January 31, Chinese AI startup DeepSeek released the open source multimodal artificial intelligence model Janus-Pro, which performed well in benchmark tests.output: This week's Bitcoin market showed a overall trend of consolidation, rapid decline, rebound and then decline, and the market was fierce. The price fell below $100,000 and then rebounded quickly, forming key support at $104,000 and $102,000. On the evening of the 30th, it briefly broke through $106,100, but failed to stabilize, and then pulled back to around $102,000, and further fell to around $99,540. Overall, the market is still in a volatile pattern. Overall, the market is still in a volatile and weak pattern. In the short term, we need to focus on the upward resistance of $105,200 and the downward support of $98,000.
This week, the flow of funds in the Bitcoin market showed a trend of differentiation, and the net inflow of exchanges increased, indicating that some investors chose to take profits, forming a certain selling pressure. In the derivatives market, the funding rate of perpetual contracts was negative, reflecting the strong short-term short-selling sentiment in the market, and leveraged funds were cautious about breaking through highs. At the same time, the continuous outflow of funds from Grayscale GBTC put downward pressure on the market, while the net inflow of spot Bitcoin ETFs slowed down, indicating that institutional funds failed to provide sufficient buying support, and the market as a whole showed a wait-and-see attitude.
Bitcoin maintained a volatile consolidation pattern this week, testing the $102,000 and $104,000 support areas several times. The buying support was relatively strong, but it failed to break through effectively after rebounding above $105,200, indicating heavy selling pressure from above. From the technical indicators, the RSI (Relative Strength Index) fluctuated around 50, failing to provide a clear trend signal, and the trading volume failed to significantly increase when breaking through the key position, reflecting the lack of market momentum. Overall, the market is still in a consolidation phase. If $102,000 is lost, it may further pull back to $98,500, while a breakthrough of $105,200 may push the price up to the $106,500-$108,000 area.
In terms of market sentiment, the Bitcoin Fear and Greed Index fell from the "greed" area to "neutral" this week, indicating that speculative sentiment has cooled down and investors' confidence in the short-term market has weakened. At the same time, the on-chain activity has declined and the average daily trading volume has decreased, indicating that the market lacks strong new capital inflows in the short term. The implied volatility (IV) of the options market has risen slightly, reflecting that the market's expectations for future volatility have increased, but the overall risk appetite has declined, and investors are still in a cautious wait-and-see stage in the short term.
In terms of macroeconomic background, the Fed's February FOMC meeting is approaching, the market's expectations for interest rate cuts have cooled, and the US dollar index remains high, which has put some pressure on risky assets such as Bitcoin. In addition, the capital inflow of spot Bitcoin ETFs has slowed down, and the market liquidity support has weakened, limiting the short-term upward momentum of Bitcoin. On the other hand, major progress in the AI industry has triggered market risk aversion, especially the rise of the domestic AI model "DeepSeek", which has impacted global technology stocks. Bitcoin has subsequently fallen below the $100,000 mark, setting a recent low. Overall, macroeconomic policies and the development of the technology industry are jointly shaping the short-term trend of the crypto market. Investors need to continue to pay attention to policy expectations and industry trends.
From January 27 to February 2, 2025, the Bitcoin network hash rate experienced significant fluctuations, showing the dynamic adjustment of miners' computing power and the impact of the market environment on mining activities. From January 27 to 28, the Bitcoin hash rate initially stabilized at around 775 EH/s, and after a brief decline, it quickly rebounded to 873.35 EH/s, then fell back to the 850 EH/s range, and further dropped to 752.36 EH/s in the evening. On the evening of January
