The crypto price chart reflected more losses than profits on Friday, January 16. Bitcoin registered a price dip of 1.40 percent over the last 24 hours. At the time of writing, the asset was trading at $95,500 on international exchanges. On a weekly average, the price of the most expensive crypto is down by 1.41 percent.
Speaking to Coin Headlines analysts said $97,000 is the key resistance. A sustained breakout could open the path toward $100,000, while $94,600 remains an important support level.
“Strong institutional demand continues to support the move, with Bitcoin ETFs attracting over $1.7 billion in net inflows in the past three days. On-chain data also shows whales increasing their holdings by around 46,000 BTC over the past year, while retail investors take profits, a setup that has historically favoured further upside,” said Akshat Siddhant, Lead Quant Analyst, Mudrex.
Ether roped-in a loss of 1.64 percent over the last day to trade at $3,300 on Friday — indicating at a stable pulse. A majority of altcoins have joined BTC and ETH in seeing small losses.
“Ethereum is more fragile, balancing around critical support near $3,280, a brief liquidity sweep lower is possible before any renewed advance toward $4,100,” Riya Sehgal, research analyst at Delta Exchange told Coin Headlines.
BNB, XRP, Solana, USDC, Tron, Dogecoin, and Chainlink registered losses of up to four percent in the last 24 hours. Zcash, however, has hit a pause on its rally and reflected a dip of 7.58 percent to trade at $406 at the time of writing.
The overall crypto market cap is down by 1.44 percent to be at $3.23 trillion, showed data by CoinMarketCap.
“Macro conditions remain supportive for risk assets, though policy uncertainty lingers. Looking ahead, sustained ETF inflows and stable support levels will determine if BTC can convert $100,000 into durable resistance or face another range-bound correction,” Sehgal added.
Analysts have pointed out that retail participation in the market remains muted, with weak funding rates and low search interest with institutional flows being standout drivers for digital assets.