Is the Bull Run over? Obviously not, and here’s why!

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.

Eddy S.

The world is evolving and adaptation is the best weapon to survive in this undulating universe. Basically a crypto community manager, I am interested in everything directly or indirectly related to blockchain and its derivatives. In order to share my experience and raise awareness of a field that fascinates me, there is nothing better than writing articles that are informative and relaxed at the same time.

DISCLAIMER

The comments and opinions expressed in this article are those of the author alone, and should not be considered investment advice. Do your own research before making any investment decisions.