Today, January 8, 2025, the cryptocurrency market is demonstrating significant volatility. Yesterday, January 7, the price of bitcoin (BTC) decreased by 4%, dropping below $98,000. This fall was followed by the publication of data on the number of job openings in the US labor market (JOLTS), which showed a rise in the number of job openings, indicating the creation of new jobs.

Additionally, there have been cases of spoofing in the market - liquidity manipulation in order books, which increased volatility and led to the liquidation of long positions totaling more than $30 million within one hour.
At the time of writing this post, Bitcoin is trading around $97,000, reflecting ongoing uncertainty in the market. Analysts recommend investors to exercise caution and closely monitor key support and resistance levels to make informed decisions in the current volatility.
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To reduce risks during periods of cryptocurrency market decline, experts recommend:
• Avoid giving in to emotions: do not become a victim of FOMO (fear of missing out) and FUD (fear, uncertainty, and doubt).
• Diversify your portfolio: distribute investments among different assets to reduce risks.
• Define clear goals: set entry and exit points, as well as stick to a pre-developed strategy.
• Conduct your own research: make decisions based on analysis, not under the influence of market sentiments.
Following these recommendations can help investors navigate the volatility of the cryptocurrency market with more confidence.