Did Bitcoin bottom at $92K? These 3 BTC charts say the worst is over

January 10, 2025 Coin Telegraph

Bitcoin

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.

Crypto observers still hopeful on Trump despite silence on first day

Bitcoin ETFs approach $110B as analyst calls $200K BTC in 2025

January 2, 2025 Coin Telegraph

Bitcoin ETFs approach 0B as analyst calls 0K BTC in 2025

Bitcoin Analysis

US-based spot Bitcoin ETFs now hold over 5.7% of the entire Bitcoin supply, with analysts seeing it as a price catalyst toward $200,000.

US-based spot Bitcoin exchange-traded funds (ETFs) are nearing a significant milestone following record-breaking growth during 2024 as BTC crossed the $100,000 price level.

The US spot Bitcoin (BTC) ETFs are just 2.2%, or $2.2 billion, away from crossing $110 billion in cumulative holdings, which makes up over 5.7% of the entire Bitcoin supply, Dune data shows.

Bitcoin ETFs, cumulative holdings. Source: Dune

Crypto observers still hopeful on Trump despite silence on first day

Bitcoin unfazed by $14B option expiry setting $110K BTC target

December 27, 2024 Coin Telegraph

Bitcoin unfazed by B option expiry setting 0K BTC target

$14B bitcoin option expiry

Bitcoin remained resilient despite the options expiry, peaking above $97,330 one hour after the year’s last options expiry event.

Bitcoin price remains resilient despite the last options expiry of the year, which threatened a significant correction below $85,000.

Over $14.2 billion worth of Bitcoin (BTC) options expired at 8:00 a.m. in UTC on Dec. 27, with a ‘max pain’ point of $85,000, which indicates the price at which most options contract would expire worthless.

The market experienced a total of $18 billion worth of Bitcoin and Ether (ETH) options expiry, according to Deribit Exchange’s Dec. 26 X post, that wrote:

Crypto observers still hopeful on Trump despite silence on first day

Confirmed Bitcoin payments hit yearly low due to holiday illiquidity

December 27, 2024 Coin Telegraph

Bitcoin

Metrics like the number of confirmed payments can be used to gauge investor activity on the Bitcoin network.

Daily Bitcoin payments have sunk to a yearly low, illustrating the period of illiquidity characteristic of the holiday season.

Confirmed Bitcoin (BTC) payments sank to 623,434 on Dec. 26, marking the lowest point of the year, according to data from blockchain.com

Confirmed Bitcoin payments per day. 1–year chart. Source: Blockchain.com

Crypto observers still hopeful on Trump despite silence on first day

Bitcoin to top $110K by Jan, $20B TRX hints at ‘altseason’ — Finance Redefined

December 6, 2024 Coin Telegraph

Bitcoin to top 0K by Jan, B TRX hints at ‘altseason’ — Finance Redefined

altcoin season

Based on its correlation with the liquidity index, Bitcoin may reach a local peak of above $110,000 by January.

Bitcoin surpassed $100,000 for the first time in history on Dec. 5, boosting expectations of a $110,000 “local top” before United States President-elect Donald Trump takes office on Jan. 20.

Risk appetite is also returning among altcoin investors after Tron (TRX) surpassed a record $20 billion market capitalization, bolstering expectations of a forthcoming altcoin season, as some of the profits from Bitcoin (BTC) investors are expected to flow into smaller cryptocurrencies.

Bitcoin has entered the “parabolic phase” of the market cycle, as analysts point at a local top of above $110,000 before the end of January.

Crypto observers still hopeful on Trump despite silence on first day

Bitcoin on track for $85K, breaks record $82.4K ‘uncharted territory’

November 11, 2024 Coin Telegraph

Bitcoin

Increasingly more analysts expect Bitcoin to breach the $100,000 mark before the end of 2024 as investor appetite was bolstered by Trump’s presidential victory.

Bitcoin is trading in uncharted territory, potentially approaching the six-figure price tag for the first time in history following Donald Trump’s victory in the United States presidential election.

The Bitcoin (BTC) price broke above a new high of $82,410 at 10:19 am UTC on Nov. 11, Bitstamp data shows.

BTC/USD, 1-month chart. Source: TradingView

Crypto observers still hopeful on Trump despite silence on first day

Bitcoin whale accumulation hits 670K all-time high amid BTC’s v-shaped bounce

October 24, 2024 Coin Telegraph

Bitcoin Analysis

Despite this week’s Bitcoin price drop, whales continued to add to their balance and the current v-shaped BTC recovery could be a sign that new highs are coming.

Bitcoin’s (BTC) price has swiftly recovered above $67,000, moving by 3% after dropping to a low of $65,200. Despite the recent drawdown, the metric tracking long-term Bitcoin accumulation sentiment did not change as BTC whales’ holding reached new highs.

BaroVirtual, a verified Bitcoin researcher on CryptoQuant, highlighted that the current whale holding reached a new all-time high (ATH) at around 670,000 BTC. The chart exhibits a growing trend in 2024, with whales initially eclipsing their previous ATH holding level from 2020 in July.

Bitcoin whales holdings chart. Source: CryptoQuant

Crypto observers still hopeful on Trump despite silence on first day

Bitcoin whale accumulation mirrors 2020 trend where BTC rallied 550%

October 18, 2024 Coin Telegraph

Bitcoin

New and old Bitcoin whale wallets have been gobbling up BTC, mirroring a 2020 trend that saw the asset rally by 550%.

With Bitcoin (BTC) price making a run at the $70,000 level, whale wallets are accumulating BTC at a speed which closely resembles July 2020 to January 2021 when Bitcoin rallied by 550%.

According to Woominkyu, a verified author on CryptoQuant, this historical trend has investors excited about a potential BTC breakout. As illustrated in the chart below, the Bitcoin whale ratio on spot exchanges is currently similar to the ratio observed around July 2020 after the COVID-induced crash in March.

Bitcoin exchange whale ratio chart. Source: CryptoQuant

Crypto observers still hopeful on Trump despite silence on first day

4th time’s the charm? Bitcoin tags $68K in attempt to break 217-day downtrend

October 16, 2024 Coin Telegraph

Bitcoin

Multiple onchain metrics showed a surge in activity as Bitcoin price rallied to $68,000, possibly signaling that the price momentum is sustainable.

Bitcoin (BTC) price registered another monthly high at $68,400 on Oct. 16, forming a new higher-high pattern( HH3) in the markets. BTC swiftly registered a new weekly high after a sharp hourly correction of 3.41% on Oct. 15. Alongside price, BTC’s on-chain data is also demonstrating a positive improvement, with active addresses indicating a positive shift in market demand and user activity.

Bitcoin 1-day chart. Source: Trading View

As prices oscillate near the $70,000 level, analysts are addressing a key price range that may lead to a short-term correction or disrupt a six-month downtrend.

Crypto observers still hopeful on Trump despite silence on first day

Bitcoin follows ‘perfect script’ charting $150K+ all-time high this cycle — Analyst

October 8, 2024 Coin Telegraph

Bitcoin follows ‘perfect script’ charting 0K+ all-time high this cycle — Analyst

arket anaysis

A veteran trader says Bitcoin is following a “perfect script” that terminates with a potential $150,000 cycle high.

Bitcoin (BTC) price is consolidating below its 2021 all-time high of $69,000, and independent trader Bob Loukas believes that the price is entering an “explosive” period of its four-year cycle.

“Bitcoin closes the 2nd year of its 4-year cycle next month, entering the 3rd and historically explosive year of the Cycle,” Loukas noted in an Oct. 8 post on X.

Loukas uses a four-year cycle to identify tops and bottoms in the Bitcoin market. The historical similarities could help investors identify when the market peaks in the current cycle.

Bitcoin Analysis

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