Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

R2 Testnet affects 10 million transactions with 200K+ users in weeks

2025-05-12

Bitcoin versus rates: the ultimate test for BTCs ‘Safe-Haven’-Use Case

2025-05-12

What Is Proof-of-Work (PoW)?

2025-05-12
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
Facebook X (Twitter) Instagram
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain

    R2 Testnet affects 10 million transactions with 200K+ users in weeks

    2025-05-12

    Miro announces a strategic partnership with Enac Network to bring about a revolution in Enterprise Web3 apps

    2025-05-12

    Ripple CTO predicts a big shift with ZK certificates: Details

    2025-05-12

    Kalps integrates with ENI to promote blockchain -innovation and RWA -Tokenization

    2025-05-12

    EMC protocol joins Dagama to restore confidence in Real-World reviews

    2025-05-11
  • NFT

    NFT -turns 10.6% to $ 115 million, Doodles Rally 500%

    2025-05-11

    Drink-to-earn? A new sparkling water comes with an NFT and points

    2025-05-08

    Cobie says we will return if someone buys this $ 20 million NFT

    2025-05-08

    Edge Matrix, Colabs Partner to strengthen NFT -Makers

    2025-05-08

    Argentinian football club Partners with StepN to launch digital sneakers

    2025-05-05
  • Metaverse

    Shib: The Metaverse – Part of the expanding Shiba Inu ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Human Digital Life

    2024-12-13

    Exploring NetVRk: What’s Behind This AI-Powered Virtual Universe?

    2024-10-28

    Council of Europe emphasizes the impact of Metaverse on privacy and democracy

    2024-09-05
  • Analysis

    Cathie Wood doubles Bitcoin objective on 2030, says that BTC still has ‘miles’

    2025-05-12

    Analyst reveals factors that will make it happen in 2025

    2025-05-12

    Hyperliquid affects $ 6 billion in open interest while Bitcoin tests $ 105k near price discovery

    2025-05-12

    Brian Armstrong says that Coinbase considered placing 80% of the balance in crypto, but decided to be against it: report

    2025-05-12

    Bitcoin Price Breakout Brewing: Has a huge rally just started?

    2025-05-11
  • Learn

    What Is Proof-of-Work (PoW)?

    2025-05-12

    What Is Proof-of-Authority (PoA)?

    2025-05-10

    What Is Proof-of-Stake (PoS)? A Beginner’s Guide

    2025-05-09

    What Is a Layer-1 (L1) Blockchain?

    2025-05-03

    What is a Layer-2 (L2) Blockchain Network Solution?

    2025-05-02
  • Blog
  • Contact
    • Tech7685@gmail.com
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Bitcoin»BTC’s cycle bottom: Examining the latest price trends and what lies ahead
Bitcoin

BTC’s cycle bottom: Examining the latest price trends and what lies ahead

2023-09-12No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

Journalist

Posted: September 13, 2023

  • Bitcoin loses downside flexibility after retesting June’s support level.
  • Market sentiment switches in favor of the bulls, leading to speculation that the bottom is in.

What if Bitcoin [BTC] is currently in a cycle bottom? This idea has been floating around lately and could be one of the reasons why the bulls are regaining momentum lately.


Is your portfolio green? Check out the Bitcoin Profit Calculator


Bitcoin regained bullish momentum after a downcast start this week. It slid by over 2% on 11 September, Monday, but followed up with a 3.87% rally in the last 24 hours at press time. This bullish performance has got the market pondering on whether it could be a sign that the market has bottomed out.

Bitcoin price action

Source: TradingView

LunarCrush conducted a survey on X to establish the level of bullish and bearish sentiment. Roughly 56.4% of correspondents anticipated more downside while 43.6% expected the market to be at its bottom.

The crypto market has bottomed.

— LunarCrush Social Trends (@LunarCrush) September 12, 2023

Why the bottom could be in or close

Bitcoin’s crash on 11 September was noteworthy for two main reasons. The price previously struggled to push to lower price levels and once it did, a massive bullish pike followed. This suggested that more traders are confident that lower price levels are more appealing.

Furthermore, the recent dip sent the price for a retest of its June lows (previous support level). Hence, the accumulation at the $24,900 support range. The longs versus shorts ratio also improved in favor of the bulls.

See also  Ethereum price has 100 SMA but needs to clear this for more gains

This metric on coinglass revealed that the ratio has been rising from 0.81 on 8 September to 1.02 on 12 September. The same metric showed that shorts dropped slightly during the same period, while longs grew slightly higher.

Bitcoin long versus short ratio

Source: Coinglass

A look at the whale and institutional side revealed that outflows have prevailed for the last four weeks. For example, the Purpose Bitcoin ETF holding metric particularly showed a consistent downside.

Meanwhile, outflows from top addresses (those holding over 1,000 BTC and over 10,000 BTC) recently dropped to monthly lows. However, addresses holding at least 1,000 commenced accumulation on 11 September despite the downside.

Bitcoin whale and institutional activity

Source: Glassnode

We also explored the current state of demand in the derivatives market. Open interest was up slightly at the time of writing, while the estimated leverage ratio dropped slightly.

This could signal that some traders could be exciting their short positions especially now that the sentiment was in favor of the bulls. On the other hand, the market is still cautious hence the low rate of leveraged longs.

Bitcoin open interest and estimated leverage ratio

Source: CryptoQuant


How many are 1,10,100 BTCs worth today


In summary, the above findings indicate that the market currently leans in favor of bullish expectations. The recent lows have so far demonstrated strong consolidation and low sell pressure below the $25,000 price range. However, these findings do not rule out the possibility of more downside below the current support.



Source link

Ahead Bottom BTCs cycle Examining Latest lies Price Trends
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Bitcoin versus rates: the ultimate test for BTCs ‘Safe-Haven’-Use Case

2025-05-12

If Bitcoin is approaching $ 105k, will BTC cross a new all time? – Judgement …

2025-05-12

Bitcoin surpassed Wall Street in the midst of April Sale slide

2025-05-12

Does Altcoin season make a comeback? – these signals suggest …

2025-05-12
Add A Comment

Comments are closed.

Top Posts

XRP Bulls shake off the crash, point this great resistance on the road to $ 3.85

2025-01-28

Bitcoin: Past bear markets share this resemblance with BTC’s state of 2022

2022-10-18

New research reveals that 95% of all NFTs are worthless

2023-09-25
Editors Picks

Democrats to Abruptly Reverse Party’s Position on Crypto to Avoid Election Disaster: Mike Novogratz

2024-05-21

Elizabeth Warren Says Crypto Must Follow Anti-Money Laundering Laws, Citing New Government Report

2024-01-22

Solana appears to be reigniting interest in its DeFi sector

2023-09-26

‘Extra Bullish’ on XRP? Crypto Analyst Points Out Perfect Timing

2023-10-18
About
About

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

R2 Testnet affects 10 million transactions with 200K+ users in weeks

Bitcoin versus rates: the ultimate test for BTCs ‘Safe-Haven’-Use Case

What Is Proof-of-Work (PoW)?

Get Informed

Subscribe to Updates

Get the latest news and Update from Free.cc about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
© 2025 Free.cc - All rights reserved. Contact: info@free.cc

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$102,072.49-1.88%
  • ethereumEthereum(ETH)$2,462.47-0.99%
  • tetherTether USDt(USDT)$1.000.01%
  • rippleXRP(XRP)$2.547.62%
  • binancecoinBNB(BNB)$660.301.18%
  • solanaSolana(SOL)$171.56-0.13%
  • usd-coinUSDC(USDC)$1.000.00%
  • dogecoinDogecoin(DOGE)$0.228437-1.12%
  • cardanoCardano(ADA)$0.800.50%
  • tronTRON(TRX)$0.2734384.26%
  • suiSui(SUI)$3.91-1.38%
  • chainlinkChainlink(LINK)$16.54-1.80%
  • avalanche-2Avalanche(AVAX)$24.51-0.53%
  • stellarStellar(XLM)$0.3144352.59%
  • shiba-inuShiba Inu(SHIB)$0.000016-1.76%
  • hedera-hashgraphHedera(HBAR)$0.2162106.02%
  • the-open-networkToncoin(TON)$3.380.22%
  • piPi(PI)$1.167.58%
  • bitcoin-cashBitcoin Cash(BCH)$409.630.11%
  • polkadotPolkadot(DOT)$5.07-0.53%
  • hyperliquidHyperliquid(HYPE)$23.89-2.91%
  • unus-sed-leoUNUS SED LEO(LEO)$8.491.47%
  • litecoinLitecoin(LTC)$101.611.53%
  • moneroMonero(XMR)$331.63-1.42%
  • pepePepe(PEPE)$0.000013-5.10%
  • bitget-tokenBitget Token(BGB)$4.74-2.20%
  • daiDai(DAI)$1.000.01%
  • ethena-usdeEthena USDe(USDE)$1.000.05%
  • uniswapUniswap(UNI)$6.80-1.32%
  • bittensorBittensor(TAO)$445.32-0.78%
  • nearNEAR Protocol(NEAR)$3.11-0.94%
  • aptosAptos(APT)$5.84-1.20%
  • aaveAave(AAVE)$217.13-0.80%
  • okbOKB(OKB)$54.52-0.87%
  • ondo-financeOndo(ONDO)$1.01-1.82%
  • internet-computerInternet Computer(ICP)$5.751.25%
  • kaspaKaspa(KAS)$0.1157310.04%
  • ethereum-classicEthereum Classic(ETC)$19.70-0.88%
  • mantleMantle(MNT)$0.800.50%
  • gatechain-tokenGateToken(GT)$21.71-0.44%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.255408-0.40%
  • vechainVeChain(VET)$0.0309290.02%
  • crypto-com-chainCronos(CRO)$0.0992401.51%
  • render-tokenRender(RENDER)$5.08-2.78%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.95-5.30%
  • ethenaEthena(ENA)$0.386088-5.69%
  • usd1World Liberty Financial USD(USD1)$1.000.46%
  • cosmosCosmos(ATOM)$5.320.93%
  • filecoinFilecoin(FIL)$3.12-1.03%
  • arbitrumArbitrum(ARB)$0.433179-4.83%
  • bitcoinBitcoin(BTC)$102,072.49-1.88%
  • ethereumEthereum(ETH)$2,462.47-0.99%
  • tetherTether USDt(USDT)$1.000.01%
  • rippleXRP(XRP)$2.547.62%
  • binancecoinBNB(BNB)$660.301.18%
  • solanaSolana(SOL)$171.56-0.13%
  • usd-coinUSDC(USDC)$1.000.00%
  • dogecoinDogecoin(DOGE)$0.228437-1.12%
  • cardanoCardano(ADA)$0.800.50%
  • tronTRON(TRX)$0.2734384.26%
  • suiSui(SUI)$3.91-1.38%
  • chainlinkChainlink(LINK)$16.54-1.80%
  • avalanche-2Avalanche(AVAX)$24.51-0.53%
  • stellarStellar(XLM)$0.3144352.59%
  • shiba-inuShiba Inu(SHIB)$0.000016-1.76%
  • hedera-hashgraphHedera(HBAR)$0.2162106.02%
  • the-open-networkToncoin(TON)$3.380.22%
  • piPi(PI)$1.167.58%
  • bitcoin-cashBitcoin Cash(BCH)$409.630.11%
  • polkadotPolkadot(DOT)$5.07-0.53%
  • hyperliquidHyperliquid(HYPE)$23.89-2.91%
  • unus-sed-leoUNUS SED LEO(LEO)$8.491.47%
  • litecoinLitecoin(LTC)$101.611.53%
  • moneroMonero(XMR)$331.63-1.42%
  • pepePepe(PEPE)$0.000013-5.10%
  • bitget-tokenBitget Token(BGB)$4.74-2.20%
  • daiDai(DAI)$1.000.01%
  • ethena-usdeEthena USDe(USDE)$1.000.05%
  • uniswapUniswap(UNI)$6.80-1.32%
  • bittensorBittensor(TAO)$445.32-0.78%
  • nearNEAR Protocol(NEAR)$3.11-0.94%
  • aptosAptos(APT)$5.84-1.20%
  • aaveAave(AAVE)$217.13-0.80%
  • okbOKB(OKB)$54.52-0.87%
  • ondo-financeOndo(ONDO)$1.01-1.82%
  • internet-computerInternet Computer(ICP)$5.751.25%
  • kaspaKaspa(KAS)$0.1157310.04%
  • ethereum-classicEthereum Classic(ETC)$19.70-0.88%
  • mantleMantle(MNT)$0.800.50%
  • gatechain-tokenGateToken(GT)$21.71-0.44%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.255408-0.40%
  • vechainVeChain(VET)$0.0309290.02%
  • crypto-com-chainCronos(CRO)$0.0992401.51%
  • render-tokenRender(RENDER)$5.08-2.78%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.95-5.30%
  • ethenaEthena(ENA)$0.386088-5.69%
  • usd1World Liberty Financial USD(USD1)$1.000.46%
  • cosmosCosmos(ATOM)$5.320.93%
  • filecoinFilecoin(FIL)$3.12-1.03%
  • arbitrumArbitrum(ARB)$0.433179-4.83%