Bitcoin shows stabilization with upcoming market changes linked to Donald Trump's inauguration. The cryptocurrency market is showing signs of recovery after a prolonged decline.
Bitcoin's Current Situation
In the last day, Bitcoin saw liquidations totaling $164 million, marking a 26% reduction compared to previous figures. Currently, BTC's price is approximately $98,425.
How Are Altcoins Performing?
Total cryptocurrency trading volume has dipped to $88 billion, a stark contrast from previous highs of $300 billion. Nevertheless, overall market capitalization of cryptocurrencies surpasses $3.5 trillion, indicating a rebound in the fear index back to neutral levels. Top gainers include AIOZ and PENGU, rising by 20% and 12% respectively, despite futures volatility leading to significant liquidations in several altcoins.
Impact of Power Change on the Market
The incoming administration is expected to embrace cryptocurrency, potentially driving further market growth. Recent ETF data showing a net positive inflow of over $908 million has bolstered trader confidence and set the stage for potential gains in the coming week.
The stabilization of Bitcoin around $98,000 and the anticipated positive effect of the new administration open up opportunities for continued market growth. Further developments will depend on macroeconomic factors and internal market dynamics.
