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After Bitcoin fell to $92,000 on January 9, 2025, the question on everyone’s lips was: is the Bitcoin Bull Run coming to an end? Analysts have weighed in on the topic and present 3 elements that prove the BTC rally is far from over.
Is the Bitcoin Bull Run over?
Bitcoin, the largest crypto by market capitalization, recently experienced a price drop, hitting around $92,000 on January 9, 2025. This drop was influenced by several factors, including uncertainties surrounding the Federal Reserve’s interest rate cuts and a cautious approach from investors ahead of the inauguration of elected President Donald Trump. However, analysts highlight that this short-term volatility should not be interpreted as a structural market change.
An anonymous analyst, known as Avocado onchain, indicated that investors should remain strategic and avoid reacting to short-term market noise. Furthermore, Mikybull, a crypto trader, noted that none of the market peak indicators have been reached in the current cycle. This includes metrics such as the Puell Multiple, the RSI-22 days, Bitcoin dominance, and the MVRV ratio.
Moreover, the continued accumulation of Bitcoin by whales reinforces this idea. These major market players have recently acquired about $941 million worth of BTC, which is often a precursor to positive market reversals and sustained bullish trends.
BTC at $94,000! Did analysts get it right?
The price of BTC currently sits at $94,258, indicating that the Bulls were resting before resuming their bullish run. However, to hope to surpass $100,000 again this month, BTC must not fall below $90,000, despite the volatility in the crypto market that could trigger a forthcoming drop.
Although Bitcoin has gone through a period of volatility, its fundamentals remain strong. The current rise of BTC suggests that the Bull Run is far from over, and any future dip could represent a buying opportunity.
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Le monde évolue et l’adaptation est la meilleure arme pour survivre dans cet univers ondoyant. Community manager crypto à la base, je m’intéresse à tout ce qui touche de près ou de loin à la blockchain et ses dérivés. Dans l’optique de partager mon expérience et de faire connaître un domaine qui me passionne, rien de mieux que de rédiger des articles informatifs et décontractés à la fois.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
