Did Bitcoin bottom at $92K? These 3 BTC charts say the worst is over
Bitcoin price is chasing $95,000 after showing modest gains today as several onchain BTC metrics are hinting at signs of a potential bottom.
Bitcoin (BTC) fell 11% between Jan. 7 and 9, breaking below the $92,000 level for the first time in nine days.
This decline led to the liquidation of over $257.5 million in leveraged long positions over the same period and coincided with profit-taking, strong economic data and uncertainty surrounding US President-elect Donald Trump’s upcoming inauguration.
Despite this short-term bearish momentum, three data metrics indicate that the drop to $92,000 may have marked the local bottom for BTC, providing a good entry point for investors.
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Author: Nancy Lubale
