Bitcoin to Start the New Year Searching for a New Bottom

[Alex077]

 Mid-term BTC market picture looks like this

According to  SoSoValue, out of the twelve spot BTC ETFs, we saw a net outflow of about $782M between December 22 and 26. That just keeps the bleed going - total ETF outflows hit $1.08B in December, after an even nastier $3.48B walked out the door the month before.
 that kind of money leaving doesn’t exactly scream “strong institutional conviction.” Big boys are still cautious, and that’s likely going to keep a lid on full-blown bullish euphoria for now.
On top of that, traders clearly aren’t betting on a January Fed rate cut. Polymarket currently has only a 13% chance of a 25 bps cut, while an 87% probability says “nothing changes.”
 So yeah - don’t hold your breath for Powell to save the party just yet

[Jegileman]

Bitcoin has been on a downtrend below $100k for quite a few weeks now, so saying that bitcoin will continue its downtrend movement is a norm because there's no sign of bitcoin pumping above $100k yet.

I am not expecting the price of bitcoin to reach $100k again before the bears take over the market. This is the best time to keep your DCA ongoing because it's sowing time. The bull run has come to an end. Just my speculation.

Your speculation is the same for many who have seen how poor the market has been performing over the past few months. The bull season looks to have been over for the market not being able to bounce back and trade above $100K, that’s a major sign to show that the bull season is still very much alive, if it’s not so, then no major sign to show that the bull season is still here.

Taking advantage of the DCA strategy is really a great approach and this will help one to maximize the opportunity the market is given now. The market may not be unpredictable but it is still showing  great sign of a bear market far much more than a bull trend continuing now.

[Franctoshi]

A triangle has formed on the daily Bitcoin chart. This figure indicates uncertainty, suggesting both growth and decline in the cryptocurrency. However, on-chain statistics provide a definitive answer. Bitcoin will start the year with updated price lows.



According to current CryptoQuant data, the UTXO age group indicator (12–18 months) has reached just 9.67%, indicating that the accumulation cycle has only just begun. Previous cycles show that the price bottom was only formed when this indicator reached levels of 30% to 45%.

The situation is exacerbated by a significant decline in demand from institutional investors. The negative Coinbase Premium Index indicates that American traders are reluctant to buy BTC at current levels.

Consequently, the Bitcoin price is falling due to a complete depletion of purchasing power amid excess supply. Without new drivers, the most likely scenario is that the downward trend will continue until the true bottom is reached. I previously described the mechanism for accurately determining this.

Historically, if Bitcoin follows it previous patterns, next year we're supposed to officially hit the bear market, but due to the changing market dynamics, price creating ATH before 2024 halving, and the fact that institutional present is now in the market, Bitcoin has also turned to a strategic reserve by the US and few other countries, there are great uncertainty as regards to where the price is headed to, but from my perspective, I think we've hit a mini Bear market and it's not going to be like what we used to have before, therefore I'm seeing the price breakdown the wedge to create a new lows.