Bitcoin is facing potential dips below the critical support level of $95,000, even after achieving its first monthly close above $100,000. Analysts, including Ryan Lee from Bitget Research, suggest that the decline on February 2 could signal a broader correction spurred by inflation concerns and labor market trends. The upcoming US labor market report, set for February 7, could influence Bitcoin's trajectory, particularly if it indicates economic weakness, possibly prompting a more favorable environment for Bitcoin in light of Federal Reserve rate cuts. January saw Bitcoin closing at $102,412, marking over a 6% increase compared to November 2024's close of $96,441. Despite the correction, some analysts maintain a bullish outlook for Bitcoin throughout 2025, especially with the recent advancements in spot Bitcoin ETFs.

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