After bitcoin dropped to $92,000 on January 9, 2025, the question on everyone's lips was: Is the bitcoin bull run ending? Analysts have looked into the subject and present 3 elements which prove that 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, reaching around $92,000 on January 9, 2025. This drop was influenced by several factors, including uncertainties around Federal Reserve rate cuts and a cautious approach from investors ahead of President-elect Donald Trump's inauguration. However, analysts emphasize that this short-term volatility should not be interpreted as a structural change in the market.
An anonymous analyst, known as Avocado onchain, said investors should remain strategic and avoid reacting to short-term market noise. Additionally, Mikybull, a crypto trader, noted that none of the market peak indicators have been reached in the current cycle. This includes metrics such as Puell Multiple, 22-day RSI, bitcoin dominance, and MVRV ratio.
Furthermore, the continued accumulation of bitcoin by whales reinforces this idea. These major market players recently acquired approximately $941 million worth of BTC, which is often a precursor to positive market reversals and sustained uptrends.
BTC at $94,000! Did the analysts get it right?
THE BTC price currently sitting at $94,258, shows that the Bulls were resting before resuming their bull run. However, to hope to cross $100,000 again this month, bitcoin must not fall below $90,000, despite the volatility of the crypto market which could cause an imminent fall.
Although bitcoin has gone through a period of volatility, its fundamentals have remained strong. BTC's current rise suggests that the Bull Run is far from over, and each future decline could represent a buying opportunity.
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