Is the Bitcoin bull run ending? Analyst says metrics don’t point to a ‘market peak’ yet
Bitcoin's price has recently dipped close to $92,000, experiencing a three-day bearish streak. The drop was influenced by news of the US Department of Justice approving the sale of 69,000 BTC and notable net outflows from spot Bitcoin ETFs. Despite fears of a market peak, analysts suggest remaining optimistic about Bitcoin's trajectory. Market uncertainties, particularly regarding Federal Reserve rate cuts and investor caution ahead of President-elect Trump's inauguration, contribute to the current downturn. Furthermore, indicators such as the short-term spent-output profit ratio dropping below 1 suggest that short-term investors are selling. However, analysts argue these fluctuations reflect short-term volatility rather than a lasting market shift. Some traders noted that none of the 30 potential market peak indicators have been met this cycle, emphasizing that current dips present buying opportunities in anticipation of a forthcoming rally. Additionally, liquidity injections expected from traditional finance in 2025 are yet to influence market sentiment significantly.
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