On Friday (January 10), the USD maintained a strong position, continuing to stand firm at 109.17. Before the release of the Non-Farm Payroll report (NFP), initial jobless claims and the FOMC meeting minutes supported hawkish pricing. Russia's missile strikes on southern Ukraine resulted in the deaths of at least 13 civilians, prompting a rebound in Gold prices to $2,670. The US government received approval to liquidate 69,370 Bitcoins seized from Silk Road, causing panic that led Bitcoin to plummet to around $92,600.

The US government has been approved to sell 69,370 Bitcoins.

According to industry reports, the US government has received approval to liquidate 69,370 Bitcoins seized from the notorious Silk Road marketplace. Court documents show that Chief District Judge Richard Seeborg rejected a motion to block the forfeiture, allowing the Department of Justice to proceed with the sale of the cryptos.

The scale of the sell-off caused panic among traders, further exacerbating the Put resistance as the downward trend began this week. Bitcoin prices reacted swiftly, plummeting from $95,060 to a low of $91,800, as shown in the diagram below.

Currently, there is widespread speculation in the market about whether this sell-off occurred before the inauguration of the elected President Donald Trump, who has consistently supported Bitcoin during his campaign. Trump's proposal includes using the seized funds to establish a national Bitcoin reserve, adding an ironic twist to the US government's narrative about crypto liquidation.

A Russian missile attack on southern Ukraine has resulted in at least 13 deaths.

According to officials cited by AP News, a Russian missile strike on the southern Ukrainian city of Zaporizhzhia on Wednesday afternoon killed at least 13 civilians and injured around 30.

A video posted on Ukrainian President Zelensky's Telegram channel shows civilians lying on city streets scattered with rubble. The video displays them receiving treatment from emergency service personnel and being lifted onto stretchers.

In this ongoing war, which has lasted nearly three years, Russia frequently conducts airstrikes on civilian areas. This is the largest conflict in Europe since World War II and has resulted in the deaths of thousands of civilians.

Zelensky and regional governor Ivan Fedorov stated that Wednesday's attack caused at least 13 civilian deaths. Just minutes before the attack, Fedorov warned that the Zaporizhzhia region might face strikes from high-speed missiles and devastating glide bombs.

Fedorov mentioned that the Russian military began launching glide bombs at Zaporizhzhia in the afternoon, with at least two bombs hitting residential buildings in the city.

He announced that Thursday would be a day of mourning in the region, and Zelensky wrote on Telegram, "Nothing is more brutal than bombing a city, knowing that ordinary civilians will suffer."

Before the US non-farm payrolls, it stabilized above 109 with initial jobless claims and FOMC minutes supporting a hawkish stance.

As of the week ending January 4, the number of new jobless claims in the USA fell to 0.201 million, better than the expectation of 0.218 million. At the same time, the ADP report indicated that the private sector added 0.122 million jobs in December, which was below expectations.

The FOMC minutes emphasized assumptions regarding trade and immigration policies, with officials worried that inflation may take longer to reach 2%. Most participants supported a 25 basis point rate cut in December, but upside inflation risks made policymakers cautious.

US yields tend to stabilize, with the 10-year Treasury yield hovering around 4.67%, while the 30-year Treasury yield remains around 4.90% after the auction week ends. Although demand for the 10-year Treasury bond was lukewarm, the 30-year Treasury bond performed strongly, reflecting investor resilience.

The loose financial environment persists, with the Chicago Fed's indicators indicating ten consecutive weeks of easing, which helps stimulate economic growth as the Federal Reserve prepares for potential future fiscal stimulus measures.

The market remains cautious as investors await clarity on labor market momentum and possible policy impacts.Non-farm Employment DataOverall employment is expected to drop from 0.227 million to 0.16 million.

dollars.Technical analysis.

FXStreet Analyst Patricio Martín stated that the USD has maintained the 20-day (SMA),Simple Moving Averagedespite intermittent pullbacks, it still maintains a constructive trend.technical indicatorsStill leaning towards positive, although they seem to be flattening out instead of further accelerating.

KeyResistanceAround 108.40, if the bearish momentum strengthens, it will be at 108.00. As long as concerns about inflation and stable yields persist, the USD may remain high around 109.00, although the trading Range may narrow in the short term.

Gold Technical Analysis

FXEmpire Analyst Bruce Powers stated that on Thursday, Gold prices continued to rise to a new short-term Trendline high of $2678, breaking through the 61.8% Fibonacci retracement level of $2671. The high of Wednesday stopped at the 61.8% level. It appears that the recovery of the 50-day moving average on Thursday, along with the subsequent daily closing price above that line, indicates strong demand momentum was maintained.

This is the first closure above the 50-day moving average since December 13, 2024, indicating an improvement in demand. Please note that trading hours in the Futures market were shortened on Thursday, which may affect trading levels due to the nationwide day of mourning for former USA President Jimmy Carter.

Although there are signs of strengthening in the short term, the rise in Gold is a counter-trend bounce within a larger downward Trendline channel pattern. Therefore, unless there is evidence to the contrary, the potential impact of the channel will be regarded as a priority. If the integrity of the channel structure is maintained, resistance may be seen near the downward Trendline, followed by a decline and price drop.

The 78.6% retracement level of $2695 can also be considered, as it is relatively close to the Trendline. Overall, unless prices break above the recent swing high of $2726, the bearish correction's bullish reversal is not obvious, as this is a lower swing high and part of the downward price structure.

In addition to the channel pattern, the current short-term rise is part of the forming consolidation Range, which is defined by the upper downward Trendline and the lower upward Trendline, connecting the swing low of $2582 on December 19. Overall, the consolidation Range has been narrowing and exhibiting a symmetric triangle pattern, with the two lines converging at the vertex of the triangle on February 6 (brown horizontal line). Periods of price contraction or lower volatility typically accompany price increases—trends and volatility increase.

The price movement around these two trendlines will indicate early signs of upward or downward breakouts. The pattern on the weekly chart suggests a possible bullish resolution. This week, the breakout surpassed last week's high of 2665 USD, triggering a bullish reversal. It is very likely that the breakout will be confirmed this week with a closing price above last week's high.

Bitcoin Technical Analysis

FXStreet analysts indicate that the price outlook for Bitcoin shows signs of a potential reversal, as the double bottom pattern at 90000 USD suggests a possible rebound.

This technical pattern is historically known for marking trend reversals, and the increase in Bitcoin's volume further confirms this, indicating that market participation and buying interest have increased.

Additionally, the volume-weighted average price (VWAP) line above the current price also indicates that buying pressure is strengthening.

Conversely, if Bitcoin fails to maintain above the critical 90000 USD resistance level, a bearish scenario may still emerge.

The chart reflects the dominance of bearish traders, and significant selling pressure could result in a price drop.

A drop below this level will negate the bullish implications of the double bottom and could pull Bitcoin down to 84,000 USD, where it may test further liquidity.

Currently, the double bottom and the increase in Volume provide a cautiously optimistic outlook for a rebound.

A sustained breakthrough of the 93,217 USD VWAP level could pave the way to 100,000 USD, consistent with the bullish target implied by the double bottom structure.