Bitcoin briefly pauses after reaching a high of $97,000... Beware of large-scale Solana unlocks

2026-01-20 04:23:54

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Bitcoin(BTC) recently retreated from a high of $97,000(approximately 141.6 million KRW), and is currently trading at around 136.46 million KRW(93,000 USD) level. This decline triggered a large-scale liquidation of approximately 1.15 trillion KRW(79 million USD) in the derivatives market. Some experts predict that BTC may face further short-term adjustments down to 128.9 million KRW(88,405 USD) level.

Standard Chartered Bank analyst Jeffrey Kendrick expects that the inflow of funds into Bitcoin spot ETFs and the pro-cryptocurrency tone of former President Donald Trump will have a positive impact on the market. He believes that BTC prices could potentially rise by up to 55% by 2026. In fact, on January 13 alone, about 1.1 trillion KRW(75.373 million USD) flowed into Bitcoin spot ETFs, demonstrating that institutional investor buying remains strong.

However, the uncertainty surrounding the Trump administration’s tariff policies is seen as a factor that could exacerbate short-term market volatility, and future policy changes should be closely monitored.

From a technical analysis perspective, BTC found support in the short-term downtrend channel within the 13.3 million to 13.4 million KRW(9.15K to 9.2K USD) range. On-chain data shows that 764 BTC(approximately 104.2 billion KRW) assets held by whale investors have been transferred to Coinbase institutional accounts(Prime). Whether this will create selling pressure is worth watching.

The altcoin market shows a volatile pattern. Ethereum(ETH) is currently trading at about 4.7 million KRW, down 0.74% compared to 24 hours ago. The upcoming ETHGas community airdrop on January 21 and the topic of Circle receiving OCC approval are positive factors that could expand DeFi ecosystem liquidity.

Ripple(XRP) is priced at 2,896 KRW, up slightly by 0.32%, showing a weak balance. Along with the weakening of the US dollar, the Fear & Greed Index remains in the “Neutral(45)” stage.

Solana(SOL) is trading at 198,000 KRW. Of particular concern is its unlock schedule of $1.37 billion(approximately 2 trillion KRW). If there is a large influx of tokens into the market, it could trigger temporary price shocks, and investors should be especially cautious.

BTC-2.45%

SOL-5.12%

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