比特币最近的下跌主要受到美联储降息的不确定性以及投资者在当选总统特朗普就职典礼前采取谨慎态度的影响。链上数据清楚地凸显了这种情绪，因为接受者买入/卖出比率的 30 天移动平均线自 2024 年 3 月（当时 BTC 达到约 74,000 美元的峰值）以来首次表明卖方占主导地位。Author: Biraajmaan Tamuly, CoinTeleGraph; Compiled by Five Baht, Golden Finance
BTC's daily chart is bearish for three consecutive days as the largest crypto asset fell to nearly $92,000 on January 9. On January 9, the US Department of Justice (DOJ) approved the sale of 69,000 BTC worth more than 6.5 billion US dollars. Spot Bitcoin ETFs showed the second-highest net outflow, reaching $0.5691 billion, further suppressing investors' overall sentiment.
With “Is the Bitcoin Bull Market Over?” Questions like these are starting to appear on X, and one analyst says that bullish optimism about BTC should stay the same.
News-induced fluctuations are plaguing the price of Bitcoin
Bitcoin's recent decline was mainly affected by the uncertainty of the Federal Reserve's interest rate cut and investors' cautious attitude ahead of President-elect Trump's inauguration. On-chain data clearly highlights this sentiment, as the 30-day moving average of takers' buy/sell ratios indicates sellers' dominance for the first time since March 2024 (when BTC peaked at around $74,000).
Bitcoin taker buy/sell ratio. Source: CryptoQuant
Bitcoin's short-term expenditure output margin (SOPR) also fell below 1, which means short-term investors are selling at a lower price. However, anonymous cryptocurrency analyst Avocado onchain said that these changes are part of BTC's short-term volatility and are caused by market speculation rather than changes in market structure. The trader added,
“Investors should remain strategic, avoid reacting to short-term noise, and focus on a broader bullish trajectory,”
Similarly, cryptocurrency trader Mikybull pointed out a list with key Bitcoin top signals for the current bull cycle. Among the 30 possible market peak indicators, including the Puell multiple, the RSI-22 day, Bitcoin dominance, and the MVRV ratio, none of the signals were touched during the current cycle. The trader said,
“Every drop is an opportunity to prepare for the massive rally that is about to come.”
A list of Bitcoin's peak bull market indicators. Source: CoinGlass
Cryptocurrency analyst Alex Kruger (Alex Kruger) also refuted the long-term bearish predicament and said “people are too pessimistic right now.”
The economist explained that while the “easy model” is over in the future, the liquidity that 2025 will inject into traditional finance has yet to be taken into account.
