CryptoQuant spots a ‘buy-the-dip’ signal in bitcoin

Panic selling around $92,000 offers an attractive opportunity to accumulate digital gold. That is the conclusion at CryptoQuant.

A drop in SOPR below the breakeven level of 1 signalled intensifying capitulation among speculative market participants. Pessimism was compounded by failed attempts to push the price back above $100,000.

«По мере снижения курса на YouTube и в СМИ стали чаще возникать негативные заголовки, что указывает на усиление медвежьих настроений», — говорится в комментарии.

Analysts noted that speculator capitulation often marks the formation of a local bottom.

In August 2024, STH-SOPR fell to its lowest in more than three years, coinciding with the first of two short-term lows around ~$55,000.

To support this hypothesis, CryptoQuant recorded stronger buying by bitcoin whales. In the 30 days to January 8, their position increased на 34 000 BTC.

Earlier, the firm’s experts identified a key metric for assessing the resumption of a bull run in the first cryptocurrency.

Analyst Ali Martinez cited a decisive close for bitcoin above $100,000 as the condition to neutralise a bearish scenario of a drop to $78,000.