Bitcoin consolidates above key support as profit-taking hits altcoins: Crypto Markets Today

2026-01-15 14:32:36

Source: CryptoNewsNet Original Title: Bitcoin consolidates above key support as profit-taking hits altcoins: Crypto Markets Today Original Link: The crypto market entered a period of consolidation on Thursday following bitcoin’s decisive breakout two days ago at $96,613.70.

The largest cryptocurrency remains above the critical $94,500 level, which is now a level of support after being a point of rejection since November.

Wenny Cai, COO and co-founder of SynFutures, said in an email that bitcoin’s trading range between $90,000 and $100,000 is symbolic of the asset becoming a “sophisticated macro hedge against central-bank volatility.”

This week’s breakout comes at a time of geopolitical tensions and internet disruptions in certain regions, leading to a narrative emerging around the importance of an asset class that is permissionless without intermediaries.

The altcoin market is experiencing a period of profit-taking, with memecoins pepe (PEPE) and BONK suffering drawdowns of between 5.9% and 8% over the past 24 hours. Selling pressure intensified since midnight as pepe fell by a further 2.8%.

BTC-1.32%

PEPE-9.1%

BONK-11.55%

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