{"id":34483,"date":"2021-01-11T10:20:05","date_gmt":"2021-01-11T08:20:05","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=34483"},"modified":"2025-08-28T20:49:43","modified_gmt":"2025-08-28T17:49:43","slug":"bitcoin-price-falls-below-34000","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-price-falls-below-34000\/","title":{"rendered":"Bitcoin price falls below $34,000"},"content":{"rendered":"<p>On January 11, the price of bitcoin temporarily dipped below $31,000. Market capitalization fell by more than $250 billion to around $900 billion.<\/p>\n<p><!--more--><\/p>\n<div id=\"attachment_121789\" style=\"width: 1034px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-121789\" class=\"wp-image-121789 size-large\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2021-01-11-v-23.01.23-1024x567.png\" alt=\"Bitcoin price fell below $34,000\" width=\"1024\" height=\"567\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2021-01-11-v-23.01.23-1024x567.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2021-01-11-v-23.01.23-300x166.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2021-01-11-v-23.01.23-768x426.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2021-01-11-v-23.01.23-1536x851.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2021-01-11-v-23.01.23-2048x1135.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<p id=\"caption-attachment-121789\" class=\"wp-caption-text\">BTC\/USD intraday chart. Data: TradingView.<\/p>\n<\/div>\n<p>By the end of the day (MSK), quotes had recovered to around $33,000. The biggest decliners were Bitcoin Cash and Litecoin.<\/p>\n<div id=\"attachment_121793\" style=\"width: 1034px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-121793\" class=\"wp-image-121793 size-large\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2021-01-11-v-23.07.27-1024x783.png\" alt=\"Bitcoin price fell below $34 000\" width=\"1024\" height=\"783\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2021-01-11-v-23.07.27-1024x783.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2021-01-11-v-23.07.27-300x230.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2021-01-11-v-23.07.27-768x588.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2021-01-11-v-23.07.27-1536x1175.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2021-01-11-v-23.07.27.png 1686w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<p id=\"caption-attachment-121793\" class=\"wp-caption-text\">Data: CoinGecko.<\/p>\n<\/div>\n<p>The price drop led to liquidations of traders&#8217; positions on the bitcoin derivatives market totalling $1.49 billion over 24 hours. The volume of liquidated positions across all coins amounted to nearly $2.7 billion.<\/p>\n<div id=\"attachment_121641\" style=\"width: 1354px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-121641\" class=\"wp-image-121641 size-full\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Untitled-1-14.png\" alt=\"Bitcoin price fell below $34 000\" width=\"1344\" height=\"640\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Untitled-1-14.png 1344w, https:\/\/u1f987.com\/wp-content\/uploads\/Untitled-1-14-300x143.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Untitled-1-14-1024x488.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Untitled-1-14-768x366.png 768w\" sizes=\"auto, (max-width: 1344px) 100vw, 1344px\" \/><\/p>\n<p id=\"caption-attachment-121641\" class=\"wp-caption-text\">Data: bybt.<\/p>\n<\/div>\n<p>Northman Trader founder Sven Henrich noted yesterday that buyers pushed the weekly RSI in bitcoin futures above 93, indicating the asset&#8217;s highest-ever overbought level.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p dir=\"ltr\" lang=\"en\"><a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> buyers have puked the futures chart to a WEEKLY RSI north of 93 its highest overbought reading ever. <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> <a href=\"https:\/\/t.co\/5QUivPsCFy\">pic.twitter.com\/5QUivPsCFy<\/a><\/p>\n<p>\u2014 Sven Henrich (@NorthmanTrader) <a href=\"https:\/\/twitter.com\/NorthmanTrader\/status\/1348227383833341954?ref_src=twsrc%5Etfw\">January 10, 2021<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>CryptoQuant CEO Ki Young Ju drew attention to a local maximum in the Miner Position Index \u2014 implying miners are selling bitcoins to lock in profits.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p dir=\"ltr\" lang=\"en\">Miner Position Index looks enough to make a local top. They\u2019re selling <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a>.<\/p>\n<p>I\u2019m going to punt a small short to scalp <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> in this short-term bearish market.<\/p>\n<p>Chart \ud83d\udc49 <a href=\"https:\/\/t.co\/RbSJ9xbC56\">https:\/\/t.co\/RbSJ9xbC56<\/a> <a href=\"https:\/\/t.co\/7RbQN7BgwW\">pic.twitter.com\/7RbQN7BgwW<\/a><\/p>\n<p>\u2014 Ki Young Ju \uc8fc\uae30\uc601 (@ki_young_ju) <a href=\"https:\/\/twitter.com\/ki_young_ju\/status\/1348226974045544450?ref_src=twsrc%5Etfw\">January 10, 2021<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/p>\n<p>Renowned trader Tone Vays believes the price correction will be short-term, and by the end of January he expects new all-time highs for the leading cryptocurrency.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p dir=\"ltr\" lang=\"en\">Wow, the <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> MRI Top was on the money today\u2026 As I said in my videos last few days, look for a 1-4 day correction then probably a new All Time High by end of month <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> <a href=\"https:\/\/t.co\/H4j21b1hze\">pic.twitter.com\/H4j21b1hze<\/a><\/p>\n<p>\u2014 Tone Vays (#EndLockdowns) (@ToneVays) <a href=\"https:\/\/twitter.com\/ToneVays\/status\/1348326212838555651?ref_src=twsrc%5Etfw\">January 10, 2021<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog Feed<\/a> \u2014 all the news, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On January 11, the price of bitcoin temporarily dipped below $31,000. Market capitalization fell by more than $250 billion to around $900 billion.<\/p>\n","protected":false},"author":1,"featured_media":34484,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480],"class_list":["post-34483","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price"],"aioseo_notices":[],"amp_enabled":true,"views":"16","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/34483","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=34483"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/34483\/revisions"}],"predecessor-version":[{"id":34485,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/34483\/revisions\/34485"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/34484"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=34483"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=34483"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=34483"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}