Bitcoin's Bull Run Could be Tested if BTC Falls Below $91K: Van Straten

2025-1-27 14:22

Bitcoin (BTC) fell just below $98,000, a near 10% drawdown from all time highs, with investors questioning the continuation of the bull run.

The fall was attributed to the concerns about China's DeepSeek Artificial Intelligence hyper-efficient model competing with the U.S. industry at a fraction of the cost.

Since President Trump won the U.S. election, bitcoin has jumped from $66,000 to new all-time highs of $109,000. During the rally BTC corrected as much as 15% twice, in addition to multiple double-digit drawdowns. Therefore, bitcoin's 10% drop seems in line with previous drawdowns.

A reliable indicator of support during a bull market is the short-term holder cost basis, which is the average on-chain cost for coins that have moved within the last 155 days. This level is around $91,000 at the moment, which means if BTC falls below that point it could put a strain on the bull run.

But bearish sentiment is already starting to heat up, as funding rates for bitcoin have started to go negative. Also Arthur Hayes, co-founder of Bitmex, is calling for a correction between $70,000-$75,000, before seeing $250,000. CoinDesk's Omkar Godbole also reported that bitcoin may drop to $75,000 should it trigger a so-called 'double top' bearish reversal pattern.

The drawdown hasn't been contained to just crypto; U.S. markets are selling off, with Nasdaq futures down as much as 4%.

origin »

Bitcoin (BTC) на Currencies.ru

$ 101396.11 (+0.30%)
Объем 24H $26.55b
Изменеия 24h: -0.33 %, 7d: -3.35 %
Cегодня L: $101396.11 - H: $101508.43
Капитализация $2009.496b Rank 1
Цена в час новости $ 101994.68 (-0.59%)

bitcoin corrections had two donald election won

bitcoin corrections → Результатов: 126


Bitcoin Bear Market: Almost Over or More Pain Ahead?

To help answer these questions, we’ve looked at the last three major pullbacks and corrections in Bitcoin to see how they compare to the current one. We analyze various technical and fundamental factors, such as how severe the corrections were, how long BTC took to recover and make a new all-time high, and the main […] Bitcoin Bear Market: Almost Over or More Pain Ahead? was originally found on Blokt - Privacy, Tech, Bitcoin, Blockchain & Cryptocurrency.

2022-5-17 22:55


Фото:

Bitcoin just rejected $9450 again; now showing 4 factors of a potential pullback

The Bitcoin price just rejected $9,450 again on lower time frames and is vulnerable to a short-term pullback. It satisfies all four factors that previously led to deep corrections in the past. As explained by one cryptocurrency trader, the four factors that often trigger the Bitcoin price to decline substantially after an extended rally are: […] The post Bitcoin just rejected $9450 again; now showing 4 factors of a potential pullback appeared first on CryptoSlate.

2020-1-30 02:08