2 days ago
The Bitcoin market has been experiencing a phase of correction in recent weeks following its recent surge beyond $108,000. This decline has led to growing concerns among investors about whether the market is entering a prolonged cooling-off period or if this correction signifies the end of the bull cycle. However, historically, such phases have been common in Bitcoin’s market cycles, often followed by periods of renewed upward momentum. Analysts are now turning to key on-chain metrics to provide insights into the current phase and its implications for Bitcoin’s price trajectory. Related Reading: Market Alert: Bitcoin’s $81K Support Zone Could Decide Its Next Big Move Key On-Chain Indicators Reflect Market Sentiment A CryptoQuant analyst known as Avocado Onchain recently shared an analysis suggesting that the market remains within a broader bull cycle. Using on-chain indicators such as the Adjusted Spent Output Profit Ratio (SOPR), Miner Position Index (MPI), and funding rates, the analyst outlined the current state of Bitcoin. According to the report, the SOPR (7-day Simple Moving Average) remains above 1 but is trending downward, indicating reduced profit margins for sellers. This metric often acts as an early signal of market sentiment shifts, with drops below 1 historically triggering rebounds as selling pressure subsides. The report further analyzed Bitcoin’s Miner Position Index (MPI). This index measures miner behavior, particularly their tendency to sell Bitcoin in anticipation of significant market events, such as halving cycles or peak price levels. The current trend in MPI shows no significant outflows from miners to exchanges, suggesting that large mining operations are holding their Bitcoin reserves. Avocado added that this indicates confidence in the long-term value of Bitcoin, even as short-term volatility persists. However, periodic sell-offs to cover operational costs are still expected. Another important indicator highlighted by the CryptoQuant analyst is total network fees, measured using a 7-day Simple Moving Average (SMA). This metric reflects transaction activity and overall on-chain engagement. Avocado disclosed that the recent decline in network fees suggests reduced trading activity and a temporary cooling-off phase in market participation. Historically, such periods of lower transaction activity have preceded periods of renewed bullish momentum, especially when other indicators align with this trend. Bitcoin Funding Rates And Investor Sentiment Funding rates, another significant indicator in the analysis, have shown a downward trend. Funding rates represent the cost of holding long or short positions in Bitcoin futures contracts and are often used to gauge market sentiment. During bull cycles, sharp drops in funding rates have often been followed by rebounds, as bearish sentiment reaches an extreme point and buyers return to the market. Related Reading: Bitcoin Price Eyes Fresh Gains: Can Bulls Break Through? The analyst emphasized that while current on-chain data suggests a cooling-off phase rather than the end of the bull cycle, short-term price movements remain uncertain. Historically, funding rate drops have served as buying opportunities for long-term investors, particularly during periods of heightened market pessimism. Featured image created with DALL-E, Chart from TradingView
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Bitget Lists Swarms (SWARMS) in the Innovation, AI, and Meme Zone
Victoria, Seychelles, January 5th, 2025, Chainwire Bitget , the leading cryptocurrency exchange and Web3 company, is excited to announce the listing of Swarms (SWARMS) in its Innovation, AI, and Meme Zone. This latest addition underscores Bitget’s focus on supporting innovative projects that push the boundaries of blockchain technology and artificial intelligence. Trading for SWARMS/USDT opens on January 2, 2025, at 10:00 (UTC) , with deposits already available and withdrawals set to begin on January 3, 2025, at 11:00 (UTC) . Swarms is positioned as a transformative multi-agent large language model (LLM) framework, offering developers the tools to automate and streamline business operations with ease. It provides a robust platform designed to address the complexities of operational workflows through intelligent automation. The Swarms ecosystem features: Diverse swarm architectures tailored for various business applications. Seamless integration capabilities with third-party platforms to extend functionality. User-friendly solutions that simplify complex business processes for enhanced efficiency. Through its advanced LLM framework, Swarms enables developers to build intelligent, scalable agent ecosystems, automating intricate workflows and driving operational effectiveness. This innovation reflects the growing synergy between AI and blockchain technologies, providing a glimpse into the future of decentralized and automated systems. To mark the listing of Swarms, Bitget is launching a 7-day limited-time promotion. During this period, users can purchase SWARMS using credit or debit cards without incurring transaction fees. The promotion supports over 140 currencies, including EUR, GBP, AUD, TWD, and more, ensuring broad accessibility for users across the globe. Bitget’s inclusion of Swarms in its Innovation, AI, and Meme Zone highlights its commitment to fostering the adoption of cutting-edge technologies within the blockchain ecosystem. By offering users seamless access to projects like Swarms, Bitget continues to bridge the gap between innovative solutions and the cryptocurrency community. For more details on Swarms (SWARMS) and the limited-time promotion, users can visit here . About Bitget Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 45 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price , Ethereum price , and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more. Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA , in EASTERN, SEA and LATAM markets, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency. For more information, users can visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet For media inquiries, please contact: media@bitget.com Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to their Terms of Use . Contact Public Relations Media Bitget media@bitget.com NewsBTC
Dogecoin’s 2025 Momentum Suggests Potential for Continued Bullish Performance Amid Resurgent Investor Interest
Dogecoin’s impressive start in 2025 signals a potential continuation of its bullish performance from 2024, reigniting investor interest. Following a two-week consolidation period, DOGE is aiming for a strong weekly NewsBTC
