According to Arthur Hayes, Co-Founder & CEO, BitMEX

selling pressure will continue until mid-February, until if one of these three following black swan events transpire before the expiry of March 2017 futures:

   1. The PBOC aggressively devalues the Yuan

    2. Marine Le Pineapple Pen is polling well in French elections

    3. Trump passes a massive infrastructure spending bill

source: BitMEX Crypto Trader Digest Jan 27, 2017