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Cryptocurrency News Articles

BTC Has Risen by 6.08% in the Past Week as Buyers Regained Control of the Market

Jan 07, 2025 at 03:07 am

At the start of 2025, Bitcoin [BTC] showed strong growth, climbing back to $99,000. Over this time, BTC went up from $92,768 to $99,857.

BTC Has Risen by 6.08% in the Past Week as Buyers Regained Control of the Market

Bitcoin [BTC] began 2025 with promising growth, where it ascended back to the $99,000 price level. During this period, BTC showcased a strong surge from $92,768 to $99,857. This increase highlighted the enduring strength of Bitcoin.

However, despite this surge, some concerns were raised regarding Bitcoin’s current market. According to CryptoQuant analysts, there might be an upcoming correction in the works due to a lack of Short-Term Holders (STHs) realized profit.

Bitcoin Short-Term Holders’ ImportanceHighlighted by CryptoQuant analyst Crazzy Block was a lack of Short-Term Holder realized profit. Due to Bitcoin’s failure to breach its All-Time High (ATH) at $108,000, these holders earned less.

When STHs earn less, it can indicate a decrease in market demand and rising pessimism, which may amplify the possibility of a price drop. Despite this, Bitcoin’s long-term potential still appeared promising.

What the Bitcoin Charts ShowedDespite the concerns regarding STHs, BTC’s market still displayed strength in the shorter timeframe. Other indicators continued to showcase strong buying pressure, making a large market correction unlikely—at least for the time being.

Among these indicators was BTC’s Funding Rate, which witnessed a rise from 0.0084 to 0.0124. As the Funding Rate increases, it signifies that more traders anticipated BTC’s price to rise and opened long positions.

Another indicator was BTC’s Exchange Supply Ratio, which fell to its lowest point in a year. This highlighted traders moving BTC into private wallets in anticipation of further price increases.

VR Soldiers’ Take on the MatterFrom the VR Soldiers’ perspective, BTC’s market displayed a contrasting picture of optimism and caution. While STHs experienced lower realized profits, other metrics such as the Funding Rate and Exchange Supply Ratio suggested continued investor confidence.

BTC had a strong chance to push higher, but traders were advised to remain cautious as the possibility of a market correction remained. As always, traders were encouraged to conduct thorough market analysis—this was not financial advice.

ConclusionDespite concerns over STHs earning less, BTC’s overall market appeared strong. Indicators such as rising Funding Rates and低い Exchange Supply Ratios pointed towards enduring optimism.

If current trends persisted, BTC had the potential to not only breach the $100,000 level but alsoを目指して $102,777 soon. However, if the market sentiment turned sour, a price drop to $95,000 remained possible. Ultimately, the next move would be determined by investor sentiment and the actions of STHs.

News source:thevrsoldier.com

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Other articles published on Jan 08, 2025