JAKARTA - The crypto market experienced a sharp correction on Wednesday, January 21, with Bitcoin (BTC) falling around 4% in the last 24 hours, and now hovering at the level of 89,000 US dollars (Rp. 1.50 billion).
Financial Expert Ajaib Panji Yudha said that this decline was triggered by global risk-off sentiment due to turmoil in the Japanese bond market.
In addition, the escalating trade tensions after Trump threatened to impose tariffs starting February 1 if an agreement on Greenland was not reached, also triggered the fall in Bitcoin prices.
Meanwhile, Tokocrypto's analysis states that current market sentiment tends to be neutral to bearish in the short term.
"Selling pressure is still visible, but high trading volume indicates that market interest has not disappeared," wrote one of Indonesia's leading crypto exchange platforms.
For short-term traders, this volatility opens up trading opportunities with strict risk management. Meanwhile, long-term investors are still monitoring the strong support area below $88,000 (Rp1.49 billion) as a potential accumulation zone.
Looking ahead, Tokocrypto sees Bitcoin's movement will be greatly influenced by global macroeconomic sentiment, institutional fund flows, and the development of crypto asset regulations.
Investors and traders are advised to remain vigilant of market volatility and always implement risk management strategies before making investment decisions.
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