MICA Daily｜BTC needs to hold the $88,000 support, otherwise it will test $82,000

The day before yesterday, the crypto market experienced a rollercoaster ride, with BTC fluctuating back and forth around the $90,000 level, causing nearly $300 million in positions to be liquidated during the US stock trading hours. Yesterday, during the early US stock market session, the European Parliament froze the US-Europe trade agreement, leading to declines in both the US stock market and the crypto market. However, Trump stated at the Davos World Economic Forum that there would be no military action against Greenland, and after meeting with NATO Secretary Rutte, a cooperation framework agreement was reached. As a result, the European tariffs scheduled for February were announced not to be implemented, causing a sharp rally in the market. Later, news broke that Haskett would not become the next Federal Reserve Chair, and the market dipped again in the closing hours. Looking at the one-hour chart of BTC above, you can see the rollercoaster trend from yesterday. After the US stock market closed, BTC basically continued to fluctuate around $90,000, and last night it again fell below $90,000. Currently, it is expected that BTC will continue to stay at this price level for a period of time. Additionally, the Bank of Japan will announce its interest rate decision this morning. The market expects rates to remain unchanged, so investors will focus on the upcoming press conference. If Japan intends to continue its rate hike trajectory, it could have a certain impact on the market.