Throughout January, the USDT Dominance metric has been forced lower from 8.79% to 8.12% at press time. This represented a 7% drop and signified crypto market participants were willing to buy crypto with their stablecoins. This explained the gains Bitcoin and many altcoins witnessed over the past week.

The low realized volatility for Bitcoin meant an explosive move could be around the corner. Such a move could catch many traders offside. A daily session close above $17.8k would be the first step for a push past the $20k area.

The Fixed Range Volume Profile was plotted from 1 November to the day of writing and showed the Value Area High at $17,50. The Point of Control was at $16,827 and the Value Area Low was at $16,260. The VAL has already been respected as support in mid-December.