Bitcoin slides below $94K mark, bears now in control

Arthur Hayes and other market analysts have cautioned about significant short-term price corrections before Bitcoin hits a new all-time high.

The price of Bitcoin, which peaked on December 17, 2024, at about $108,000, fell to $93,793 on December 29, below the $94,000 price level.

Bitcoin is down about 2.67% over the last seven days and 1.29% over the last 24 hours, according to data from CoinMarketCap.

Following its historic bull rally in November and December, the price of Bitcoin is consolidating between $92,000 and $99,000, trading well below its 20-day EMA and getting closer to its 50-day EMA.

The Relative Strength Index (RSI) is currently at 42, indicating that the digital asset is neither overbought nor oversold. Since October 2024, however, the price of Bitcoin has maintained its position above its 200-day EMA, a crucial level of support.

The output is:Related: As the price of bitcoin rises by 50% in Q4, a trader anticipates the annual close "games."

The Taker-Buy-Sell-Ratio falls below 1.

And USDT becomes more dominant.
At the moment, the Bitcoin Taker-Buy-Sell-Ratio, which measures market sentiment, is 0.92. The metric indicates that bears are in control of the market when it falls below 1, and bulls are in control when it rises above 1.

With the argument that growing USDt $0.9978 market domination portended a decline in Bitcoin's price, TradingView writer "The ForexX Mindset" recently alerted investors to a market dump that may drive the cryptocurrency's price down to about $81,500.

An indication that investors are protecting themselves from riskier assets and holding onto their powder dry for later is the growing USDt dominance.

Aksel Kibar, a technical analyst, also forecasted a price correction to about $80,000. According to the trader, a traditional head and shoulders chart pattern suggested that Bitcoin might experience a decline in the days and weeks ahead.

The output is: Funding rates for perpetual futures continue to be positive.

Funding rates for Bitcoin perpetual futures contracts are still positive in spite of the bearish indications from these on-chain metrics and the cautious attitude of market traders.

Positive funding rates indicate that traders with long positions control the market and are willing to pay short traders to keep their positions open.

The long-term price of Bitcoin during this cycle is largely dependent on the incoming Trump administration's regulatory stance and the Federal Reserve's monetary policy in 2025.

This uncertainty has created widely differing price targets for the decentralized digital asset, with crypto mining company Blockware recently forecasting a BTC price between $150,000 and $400,000 in the new year.

The above content is based on the article by William Suberg from

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Bitcoin Dips Below $9.4K: What Does It Mean for the Market?

Bitcoin’s recent dip below the $9,400 mark, as reported by Cointelegraph, has sparked concerns among investors and traders alike. This decline highlights the ongoing tug-of-war between bulls and bears in the cryptocurrency market. Here are some key takeaways and perspectives on the situation:

1. Market Sentiment Turns Bearish

The current price action suggests that bearish sentiment is gaining strength. A failure to hold critical support levels could indicate a larger downward trend. This might lead to increased selling pressure as traders aim to minimize losses.

2. Macro Factors at Play

External factors such as regulatory developments, economic uncertainty, or changes in institutional participation often influence Bitcoin’s price movements. Identifying these triggers can provide better insight into whether this dip is a short-term correction or the start of a prolonged bearish phase.

3. Opportunities in Volatility

While price declines can be concerning, they also present opportunities for traders. For long-term investors, such dips might offer an attractive entry point, assuming confidence in Bitcoin's long-term potential remains intact.

4. Historical Context

Bitcoin has experienced similar corrections in the past, often bouncing back stronger. It’s important to analyze historical data to assess whether this dip aligns with typical market cycles or signals a deviation from expected patterns.

5. Cautious Optimism

Despite the bearish momentum, Bitcoin’s fundamentals remain strong, with adoption and use cases continuing to grow. The market's resilience often depends on a combination of technical factors and external influences, so keeping an eye on both is crucial.

Final Thoughts

The dip below $9.4K underscores Bitcoin's inherent volatility and the need for a strategic approach to trading and investing. While bearish control appears to dominate for now, history has shown that market sentiment can shift rapidly. As always, maintaining a balanced perspective and managing risk is key to navigating the unpredictable world of cryptocurrency.