Weekly Roundup: Major Price Correction in the Crypto Market - Mobee

During the week of January 6–13, 2025, global economic data underscored a resilient U.S. economy, highlighted by stronger-than-anticipated service sector activity, a steady labor market, and rising Treasury yields. Despite some softer signals (like the lower-than-expected ADP Nonfarm Employment), major indicators—such as Nonfarm Payrolls surpassing forecasts and the Unemployment Rate dipping—reinforced the Federal Reserve’s “higher-for-longer” interest rate stance.

In the crypto market, Bitcoin (BTC) initially broke above the $99,000 resistance but failed to maintain that level, retracing to a range around $93,000–$95,900. Ethereum (ETH) similarly pushed above $3,591 before reversing and dropping below subsequent supports; it now trades near $3,251, with $3,000 as the next major target if selling pressure persists. Solana (SOL) climbed past $203.40 but quickly reversed course, consolidating near the $181–$185 support zone. Across these assets, traders saw a shift from bullish breakouts to a more cautious, sideways or downward trend, driven by indecision and selling pressure. A solid rebound would require each cryptocurrency to reclaim its former support levels or break higher resistance thresholds, while a breach below current supports could trigger further declines.