BlockBeats News, January 9th, according to CoinDesk, Bitcoin rebounded from a low to approximately $90,500, after briefly dipping to around $89,300, testing the support near the 50-day moving average (about $89,200). This is the third consecutive day of Bitcoin correction, after reaching nearly $95,000 on Monday. Cryptocurrency trading firm Wintermute stated that the main reason for Bitcoin's decline was low trading volume, coupled with traders taking profits.
Wintermute OTC trading head Jake Ostrovskis said: "After the initial risk appetite recovery following the market open at the beginning of the year, the market failed to break through the key $95,000 level, leading to two-way fluctuations in trading over the past two days, with ETF capital outflows dominating."