Bitcoin started the new year with fresh energy as prices briefly touched $93,000, setting the tone for a broad market move that forced many traders out of losing positions.

At the same time, Italian football Fan Tokens also moved higher, with Juventus, Inter Milan, and AS Roma tokens all posting steady weekly gains. The mix of a strong Bitcoin move and calm buying in sport-linked tokens showed how different parts of the market reacted to the same burst of confidence.

Bitcoin Pushes Higher and Shakes Out Late Sellers

Bitcoin climbed to a high of nearly $93,000 on Monday as traders returned after a choppy end to 2022. The price rose about 1% in the last 24 hours and closed to 3% over the past seven days. This move came as money flowed back into risk assets worldwide, including stocks and commodities.

As prices rose, many traders who were betting on a drop were caught off guard. Over $260 million worth of positions were closed in just one day. Most of these were from sellers who had expected prices to fall.

In the last few hours of the move alone, more than $121 million of these losing bets were wiped out, while losses on the buying side stayed much smaller. This showed that the market was leaning too heavily toward a drop before the sudden rise.

Other major coins also followed Bitcoin higher. Ether held near $3,160, while XRP moved above $2.10. Solana stayed close to $136, and Dogecoin, while slightly lower on the day, was still up 17% over the past week.

Italian Fan Tokens Turn Green as Market Mood Improves

While Bitcoin grabbed headlines, Italian football fan tokens quietly posted gains of their own. These tokens often move on club news and fan interest, but they can also benefit when the wider market feels calm and hopeful.

Juventus Fan Token ($JUV) traded at $0.7554, rising 0.22% in the last 24 hours and 3.29% over the past week. Its market value now stands at $10,785,847. Inter Milan Fan Token ($INTER) changed hands at $0.3475, with a 0.24% daily rise and a 3.40% gain over seven days, giving it a market value of $3,854,972.

AS Roma Fan Token ($ASR) also stayed in the green. It traded at $1.54, up 0.29% on the last day and 3.06% for the week. Its market value reached $12,419,282.

A Calm Start to the Year for Risk Assets

The recent uptick in the price of BTC and Italian Fan Tokens also extended to other markets. For instance, gold rose above $4,400 along with Asian stocks and silver. These positive developments signal a more confident start to the year as investors are more willing to hold their positions rather than rush for quick exits.

Ebo Victor

Fantoken Market Reporter