Bitcoin (BTC) recently faced a 3-day downtrend, dipping to ~$92K on January 9 amid bearish sentiment. Despite concerns over the bull market’s end, analysts emphasize that critical peak indicators remain inactive, suggesting long-term optimism.
Market Volatility Driven by Macroeconomic and Regulatory Factors
The recent BTC price drop stems from:
– Federal Reserve interest rate uncertainty: Investors await clearer signals on 2025 monetary policy.
– DOJ’s $6.5B BTC sale approval: Coupled with $569M outflows from spot Bitcoin ETFs, this amplified short-term selling pressure.
On-chain data reveals shifting sentiment:
– The 30-day moving average of Bitcoin’s Buy/Sell Ratio flipped to seller dominance (first since March 2024’s $74K peak).
– Short-term SOPR (Spent Output Profit Ratio) fell below 1, indicating losses for recent buyers.
👉 Why Bitcoin’s long-term growth remains intact
Why Analysts Reject Bearish Narratives
1. Untriggered Bull Market Peak Signals
Crypto trader Mikybull highlighted 30 key indicators historically signaling market tops, including:
| Indicator | Status (2025 Cycle) |
|—————-|———————|
| Puell Multiple | Not triggered |
| RSI-22 days | Not triggered |
| Bitcoin Dominance | Not triggered |
| MVRV Ratio | Not triggered |
Source: CoinGlass
Mikybull noted:
“Every dip is a chance to position for the next rally.”
2. Structural Bullishness Intact
Anonymous analyst Avocado argued current volatility stems from speculative noise, not fundamental shifts:
– Global liquidity injections (expected in 2025) could fuel future rallies.
– Long-term holders (LTHs) continue accumulating, reducing sell-side pressure.
Economist Alex Kruger added:
“Markets are overly pessimistic. The ‘easy mode’ phase is over, but macro liquidity tailwinds aren’t priced in yet.”
👉 How to identify Bitcoin accumulation zones
FAQs: Bitcoin Bull Market Sustainability
Q: Is Bitcoin’s bull market over?
A: No. Key on-chain/metrics (e.g., Puell Multiple, MVRV) show no historical sell signals.
Q: Why did BTC drop to $92K?
A: Short-term factors like ETF outflows and DOJ BTC sales caused panic selling.
Q: When could the bull market peak occur?
A: Analysts suggest 2025’s macro liquidity shifts (e.g., rate cuts) may delay the top until late 2025/early 2026.
Q: Should investors sell BTC now?
A: Data favors holding or buying dips. Only 3/30 peak indicators are currently active (vs. 15+ typically at tops).
Q: What’s the biggest risk to Bitcoin’s rally?
A: Regulatory crackdowns or prolonged risk-off sentiment in traditional markets.