{"id":673303,"date":"2025-01-10T08:00:23","date_gmt":"2025-01-10T08:00:23","guid":{"rendered":"https:\/\/uniquehot.com\/?p=673303"},"modified":"2025-01-09T15:34:10","modified_gmt":"2025-01-09T15:34:10","slug":"bitcoin-current-struggles-could-set-the-stage-for-a-major-comeback-heres-why","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/bitcoin-news\/bitcoin-current-struggles-could-set-the-stage-for-a-major-comeback-heres-why\/","title":{"rendered":"Bitcoin&#8217;s Current Struggles Could Set the Stage for a Major Comeback\u2014Here\u2019s Why"},"content":{"rendered":"<p data-pm-slice=\"1 1 []\">Bitcoin market performance has faced a challenging start to the year, marked by a lesser upsurge and more bearish sentiment. Amid these fluctuations, <a href=\"https:\/\/cryptoquant.com\/insights\/quicktake\/677fd0c4a315a278ef6afefe-Bitcoin-Price-Correction-Short-Term-Volatility-Amid-Long-Term-Bullish-Outlook\" target=\"_blank\" rel=\"noopener nofollow\">insights<\/a> from CryptoQuant analyst Avocado Onchain shed light on the current state of Bitcoin&#8217;s price movements and the factors influencing them.<\/p>\n<p data-pm-slice=\"1 1 []\">In a post titled \u201cBitcoin Price Correction: Short-Term Volatility Amid Long-Term Bullish Outlook,\u201d Avocado analyzed key on-chain metrics, highlighting trends that may define Bitcoin\u2019s immediate and future trajectory.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/crypto-liquidations-710-bitcoin-ethereum-crash\/\" target=\"_blank\" rel=\"noopener \">Crypto Liquidations Near $690 Million As Bitcoin, Ethereum Crash<\/a><\/div>\n<h2 data-pm-slice=\"1 1 []\">On-Chain Metrics Hint At Bitcoin\u2019s Next Move<\/h2>\n<p data-pm-slice=\"1 1 []\">The analyst pointed out that the ongoing decline in Bitcoin&#8217;s price has been fueled by several factors, including uncertainty surrounding Federal Reserve rate adjustments, cautious market behavior ahead of political transitions, and concerns over state-held Bitcoin sales, which historically emerge during correction periods.<\/p>\n<p data-pm-slice=\"1 1 []\">These elements have combined to push market sentiment toward bearish territory. However, Avocado emphasized that the short-term outlook does not <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/bitcoin-plunges-below-100k-despite-positive-coinbase-premium-signal-whats-next\/\" target=\"_blank\" rel=\"noopener \">necessarily overshadow<\/a> Bitcoin\u2019s long-term potential for recovery and growth.<\/p>\n<p data-pm-slice=\"1 1 []\">Avocado\u2019s analysis utilized on-chain data to assess the possibility of additional price corrections. One of the primary indicators examined was the Taker Buy\/Sell Ratio (30-day moving average), which revealed a dominance of sell-side activity.<\/p>\n<p data-pm-slice=\"1 1 []\">Following Bitcoin\u2019s price surge in March 2024 and its recent all-time high, this ratio trended downward, signaling an overheated market. This pattern historically precedes periods of <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/crypto-liquidations-710-bitcoin-ethereum-crash\/\" target=\"_blank\" rel=\"noopener \">price decline<\/a>, indicating potential for further corrections.<\/p>\n<p data-pm-slice=\"1 1 []\">Another metric, the Short-Term Spent Output Profit Ratio (SOPR), which measures short-term investors&#8217; profitability, has dropped below 1. This indicates that many short-term holders are selling at a loss, a behavior that has been observed during prior <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/bitcoin-faces-mixed-signals-institutional-investors-accumulate-amid-retail-weakness\/\" target=\"_blank\" rel=\"noopener \">correction phases<\/a>.<\/p>\n<p data-pm-slice=\"1 1 []\">Similarly, the Funding Rates (30-day moving average), a measure of market sentiment among leveraged traders, is trending downward. Negative funding rates often precede a bearish market shift but can also pave the way for eventual recovery once sentiment stabilizes. Avocado wrote:<\/p>\n<blockquote>\n<p data-pm-slice=\"1 1 []\">While this analysis focuses on short-term price movements, Bitcoin is likely to rebound in the long run and resume its upward trend after completing the correction phase. Investors should remain strategic, avoid reacting to short-term noise, and focus on the broader bullish trajectory.<\/p>\n<\/blockquote>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/bitcoin-is-forming-a-symmetrical-triangle-breakout-or-breakdown\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Is Forming A Symmetrical Triangle \u2013 Breakout Or Breakdown?<\/a><\/div>\n<h2 data-pm-slice=\"1 1 []\">Bitcoin Market Performance<\/h2>\n<p>Meanwhile, Bitcoin has continued to demonstrate <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/bitcoin-is-forming-a-symmetrical-triangle-breakout-or-breakdown\/\" target=\"_blank\" rel=\"noopener \">bearish movements<\/a> especially with its price now trading for $92,317, at the time of writing down by 3.3% in the past day.<\/p>\n<figure style=\"width: 3250px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-large\" src=\"https:\/\/www.tradingview.com\/x\/o31KfIDy\/\" alt=\"Bitcoin (BTC) price chart on TradingView\" width=\"3250\" height=\"1794\"><figcaption class=\"wp-caption-text\">BTC price is moving downwards on the 2-hour chart. Source: BTC\/USDT on <a href=\"https:\/\/www.tradingview.com\/chart\/HSuSIPeM\/?symbol=BINANCE%3ABTCUSDT.P\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/figcaption><\/figure>\n<p>One of the major factors that have contributed to the ongoing bearish sentiment in the Bitcoin market appears to be the <a href=\"https:\/\/twitter.com\/tier10k\/status\/05356670?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">resurfacing<\/a> of the US government wanting to <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/bitcoin-outflows-on-binance-suggest-growing-accumulation-bullish-momentum-ahead\/\" target=\"_blank\" rel=\"noopener \">sell the seized BTC<\/a> from Silk Road which now amounts to roughly $6.5 billion.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">The US Govt has been given the greenlight to liquidate 69,000 BTC ($6.5B) from Silk Road, an official confirmed to DB News today<\/p>\n<p>Interesting situation less than 2 weeks away from the new admin who vowed to not sell <a href=\"https:\/\/t.co\/HqD1KnhJK3\" target=\"_blank\" rel=\"noopener nofollow\">https:\/\/t.co\/HqD1KnhJK3<\/a> <a href=\"https:\/\/t.co\/xn8ATSEL7H\" target=\"_blank\" rel=\"noopener nofollow\">pic.twitter.com\/xn8ATSEL7H<\/a><\/p>\n<p>\u2014 db (@tier10k) <a href=\"https:\/\/twitter.com\/tier10k\/status\/05356670?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">January 9, 2025<\/a><\/p><\/blockquote>\n<p>Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin market performance has faced a challenging start to the year, marked by a lesser upsurge and more bearish sentiment. Amid these fluctuations, insights from CryptoQuant analyst Avocado Onchain shed light on the current state of Bitcoin&#8217;s price movements and the factors influencing them. In a post titled \u201cBitcoin Price Correction: Short-Term Volatility Amid Long-Term Bullish Outlook,\u201d Avocado analyzed key on-chain metrics, highlighting trends that may define Bitcoin\u2019s immediate and future trajectory. Related Reading: Crypto Liquidations Near $690 Million As Bitcoin, Ethereum Crash On-Chain Metrics Hint At Bitcoin\u2019s Next Move The analyst pointed out that the ongoing decline in Bitcoin&#8217;s price has been fueled by several factors, including uncertainty surrounding Federal Reserve rate adjustments, cautious market behavior ahead of political transitions, and concerns over state-held Bitcoin sales, which historically emerge during correction periods. These elements have combined to push market sentiment toward bearish territory. However, Avocado emphasized that the short-term outlook does not necessarily overshadow Bitcoin\u2019s long-term potential for recovery and growth. Avocado\u2019s analysis utilized on-chain data to assess the possibility of additional price corrections. One of the primary indicators examined was the Taker Buy\/Sell Ratio (30-day moving average), which revealed a dominance of sell-side activity. Following Bitcoin\u2019s price surge in March 2024 and its recent all-time high, this ratio trended downward, signaling an overheated market. This pattern historically precedes periods of price decline, indicating potential for further corrections. Another metric, the Short-Term Spent Output Profit Ratio (SOPR), which measures short-term investors&#8217; profitability, has dropped below 1. This indicates that many short-term holders are selling at a loss, a behavior that has been observed during prior correction phases. Similarly, the Funding Rates (30-day moving average), a measure of market sentiment among leveraged traders, is trending downward. Negative funding rates often precede a bearish market shift but can also pave the way for eventual recovery once sentiment stabilizes. Avocado wrote: While this analysis focuses on short-term price movements, Bitcoin is likely to rebound in the long run and resume its upward trend after completing the correction phase. Investors should remain strategic, avoid reacting to short-term noise, and focus on the broader bullish trajectory. Related Reading: Bitcoin Is Forming A Symmetrical Triangle \u2013 Breakout Or Breakdown? Bitcoin Market Performance Meanwhile, Bitcoin has continued to demonstrate bearish movements especially with its price now trading for $92,317, at the time of writing down by 3.3% in the past day. One of the major factors that have contributed to the ongoing bearish sentiment in the Bitcoin market appears to be the resurfacing of the US government wanting to sell the seized BTC from Silk Road which now amounts to roughly $6.5 billion. The US Govt has been given the greenlight to liquidate 69,000 BTC ($6.5B) from Silk Road, an official confirmed to DB News today Interesting situation less than 2 weeks away from the new admin who vowed to not sell https:\/\/t.co\/HqD1KnhJK3 pic.twitter.com\/xn8ATSEL7H \u2014 db (@tier10k) January 9, 2025 Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":673309,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[428,629,680,1119,78790,6664,10923,83531],"class_list":["post-673303","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-market","tag-bitcoin-price-analysis","tag-btc","tag-btcusdt","tag-crypto","tag-crypto-market","tag-cryptoquant"],"acf":[],"yoast_head":"\n<title>Bitcoin Current Struggles Could Set the Stage for a Major Comeback\u2014Here\u2019s Why<\/title>\n<meta name=\"description\" content=\"Bitcoin market performance has faced a challenging start to the year, marked by a lesser upsurge and more bearish sentiment. 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. 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