Is the Bitcoin bull run ending? Analyst says metrics don’t point to a ‘market peak’ yet
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Bitcoin's recent price woes near $92,000 are short-term, and one analyst says traders should ignore the market noise.
🔥🔥Bitcoins on a three-day bearish streak, as the largest crypto asset dropped closer to $92,000 on Jan. 9. General investor sentiment was further deterred on Jan. 9 after the US Department of Justice (DOJ) greenlit the sale of 69,000 BTC worth over $6.5 billion, and spot Bitcoin ETFs witnessed their second-highest net outflow at $569.1 million.
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With queries like, “Is Bitcoin bull market over?” starting to surface on X, one analyst said that bullish optimism toward BTC should remain intact. 🔥🔥
🤝🔥News-driven volatility haunts Bitcoin price
Bitcoin’s recent downturn is primarily influenced by uncertainties around Federal Reserve rate cuts and investors adopting a cautious approach before President-elect Trump’s inauguration. Onchain data clearly highlights this sentiment, as the 30-day moving average of the Taker Buy/Sell ratio indicated sell-side dominance for the first time since March 2024 (when BTC peaked at around $74,000). 🔥
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