BTCVolatility Weekly Review (Jan 20th-27th)

January 27th, 4 pm Hong Kong time) BTC fell 7.9% against USD ( from 107.3 thousand dollars to 98.8 thousand dollars), ETH fell 9.2% against USD ( from 3.38 to 3.07 thousand dollars)

The price of BTC against USD skyrocketed before Trump's inauguration ceremony, but after a volatile week, it remained basically unchanged at settlement on Friday. After a calm weekend, it was aggressively sold off on Monday morning, seemingly related to the sluggish US tech stocks. Eventually, the price of the coin tested the support range of 98-100 thousand USD. If this support level is broken, we may see larger deviations in a corrective trend, which has been dominant from mid-December to mid-January. Our fundamental judgment is that the support level of 98 thousand USD is sufficient to support a significant increase in the price of the coin in the next few weeks, so we still hold a bullish view. However, if the price of the coin is dragged back into the volatile range of 92-98 thousand USD, we need to reassess. Market Theme All the focus this week has been on Trump's inauguration and subsequent executive orders. Overall, these orders were not surprising, and the only major surprise was the easing of the stance on tariffs (especially towards China), leading to a partial elimination of the previous consensus on being bullish on the US dollar against the G10 and the Renminbi. Against the backdrop of the "America First" policy, US stocks continue to rise.