BTC breaks through the $98000 mark

Gold (XAU) is reaffirming its status as a safe haven asset amid ongoing fears of a U.S.-led trade war, while bitcoin (BTC) struggles to gather upside traction. The dynamic is driving the bitcoin-gold ratio lower.The ratio between bitcoin's USD price and gold's per ounce dollar price has dropped to 34, the lowest since Nov. 14, almost testing the previous peak hit in March 2024, data from charting platform TradingView show. It's down 15.4% since hitting a peak above 40 in mid-December.See all newslettersGold's year-to-date surge of nearly 10% to a per-ounce record price of $2,877 has been driven by safe-haven demand amid the escalating U.S.-China trade war, according to Reuters. The tariffs threat has dedicated metal products Comex futures prices trading substantially above the spot price in recent months. That has traders loading U.S.-bound planes with the yellow metal. The investment banking giant JPMorgan plans to deliver $4 billion of gold bullion to New York this month, according to The Guardian. Plus, Chinese demand for gold has surged due to the Spring Festival holidays.Meanwhile, inflows into U.S.-listed spot Bitcoin (BTC) ETFs have primarily come from traders engaging in non-directional arbitrage bets on BTC, according to 10x Research."The ETF buying could be offset by simultaneous spot or futures selling (unwinding of long positions), dampening any significant price impact," Markus Thielen, founder of 10x Research, said in a note to clients Monday, noting the $4 billion in inflows into the U.S. spot-listed ETFs since the release of the inflation data three weeks ago.

Odaily Planet Daily News: Independent analyst Arjantit stated that the current consolidation cycle of Bitcoin may continue until the end of February, mainly for the following reasons: The price of Bitcoin is consolidating after a 15 week increase (+105%); As long as BTC/USD remains above $90000, the daily trend structure will remain strong; However, falling below $90000 could be a 'buying opportunity'; The consolidation cycle may end at the end of February, after which BTC will rebound to $120000. （Cointelegraph）

Click on the link to enter the live stream: https://meeting.tencent.com/p/5658778060 Today is the first working day. But the community service has already started for almost a week. Since the beginning of this week, the market has experienced a period of ups and downs. We have also conducted a series of market analysis and sorting. Based on yesterday's market analysis and trading suggestions on Maishang, our approach is sound. Let's talk about the trading on wheat first. Yesterday, we conducted a limit short operation on the pancake on wheat. Before the last rally in the market, our large bearish orders also successfully took profits. Furthermore, we have analyzed and judged the trend of both currencies, and believe that after yesterday's reversal behavior, prices will not have a higher upward trend. On the contrary, I am more optimistic about the expected decline of both currencies. Based on today's results, our approach is sound, so we may need to follow up on today's market trends for further analysis. At present, the performance of both currencies has shown a follow-up decline after yesterday's surge. The price on the pancake is basically at the lower edge of the oscillation range set yesterday. At this position, there may be some support movement along the edge or generated. But based on our expectation of a reversal of the market yesterday, this position may experience an instantaneous drop. As for the overall weak form on the Ethereum, it is believed that the overall downward expectation is stronger. However, at the daily level of Ethereum, it seems that it is currently not suitable to directly attempt short trades. As we discussed yesterday, the multiple cycles of ether have resulted in some chaotic behavior. There have been some conflicting ideas in the judgment of transactions, so in recent trading, we suggest referring more to the trading of Da Bing. Try less Ethereum operations. I don't think the market will once again take a clear direction this week, and based on yesterday's thinking, I believe that there is a high probability that both currencies will engage in frequent washout behavior this week. So the current trend of the big pie and ether may not necessarily be the direction that the market needs to operate in. The clear direction we believe may come after the end of this week's consolidation. Only then will it appear. Tencent Meeting: 5658778060 QQ group number: 835657547 Aicoin group: https://aicoin.com/link/chat?cid=2ARLLeaoM Disclaimer: The above content only represents the author's personal opinion and is for communication and sharing purposes only. It does not represent the position or viewpoint of AiCoin and does not constitute any investment advice. Based on this investment, there may be external contacts, which have nothing to do with AiCoin, and the consequences shall be borne by oneself.

Odaily Planet Daily News: Due to the increasing difficulty of online mining, the production of most Bitcoin mining companies has decreased in January, including Hut 8, Mara, and Bitrfarms. The production of miners in January has decreased compared to the last month of 2024. Compared to December 2024, Hut 8's monthly Bitcoin production decreased by 27%, while Mara and Bitfarms' monthly Bitcoin production decreased by 12.5% and 4.7% respectively. However, Riot Platforms' Bitcoin mining output increased by 2.1% against the trend. （Cointelegraph）