FameEX Hot Topics | Is the Bitcoin Bull Run Ending? Analyst: Metrics Don’t Suggest a 'Market Peak' Yet

Bitcoin’s recent decline to around $92,000 is considered a temporary setback, with experts advising traders to maintain focus on the broader bullish trend instead of short-term market fluctuations. On January 9, Bitcoin entered a three-day downward streak, driven by uncertainty over Federal Reserve rate decisions and cautious investor sentiment ahead of President-elect Trump’s inauguration.

This decline coincided with the U.S. Department of Justice’s (DOJ) approval to sell 69,000 BTC, valued at $6.5 billion, which further unsettled the market. At the same time, Bitcoin exchange-traded funds (ETFs) experienced their second-largest net outflow of $569.1 million, leading many to speculate that the bull market might be over. These events raised concerns among investors about Bitcoin’s immediate outlook.

On-chain data suggests that Bitcoin’s recent price dip is more due to market speculation and uncertainty rather than a fundamental shift. The 30-day moving average of the Taker Buy/Sell ratio revealed sell-side dominance for the first time since March 2024, when Bitcoin reached around $74,000. While this indicates a temporary market pullback, it doesn’t signal a significant change in Bitcoin’s long-term outlook.

Moreover, Bitcoin’s short-term spent-output profit ratio (SOPR) fell below 1, showing that short-term investors are selling at a loss. Despite these indicators, anonymous on-chain analyst Avocado reassured that such volatility is part of normal market cycles, urging investors to stay aligned with the broader positive trend.

Crypto trader Mikybull echoed this view, noting that critical market peak indicators such as the Puell Multiple, RSI-22 day, and Bitcoin dominance haven’t triggered yet. With no significant sell signals, Mikybull emphasized that each market dip should be viewed as an opportunity to prepare for the forthcoming rally, encouraging a long-term, strategic perspective.

Disclaimer: The information provided in this section is for reference only and does not represent any investment advice or the official views of FameEX.