{"id":676048,"date":"2025-01-15T23:30:32","date_gmt":"2025-01-15T23:30:32","guid":{"rendered":"https:\/\/wncen.com\/?p=676048"},"modified":"2025-01-15T10:51:39","modified_gmt":"2025-01-15T10:51:39","slug":"bitcoin-traders-turn-bearish","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-traders-turn-bearish\/","title":{"rendered":"Bitcoin Traders Turn Bearish Despite Price Recovery Above $97,000, Here Are The Numbers"},"content":{"rendered":"<p><span style=\"font-weight: 400\">The Bitcoin price has recovered above $97,000, providing a bullish outlook for the flagship crypto. Despite this development, <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-metrics-show-new-participants-have-entered-the-market-short-term-investment-capital-explodes\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">BTC traders<\/span><\/a><span style=\"font-weight: 400\"> still look apprehensive as their strategy suggests they are still bearish on the current price action.\u00a0<\/span><\/p>\n<h2>Bitcoin Traders Turn Bearish Following Price Recovery<\/h2>\n<p><span style=\"font-weight: 400\">In an <\/span><a href=\"https:\/\/x.com\/ali_charts\/status\/29869367\" rel=\"nofollow\"><span style=\"font-weight: 400\">X post<\/span><\/a><span style=\"font-weight: 400\">, crypto analyst Ali Martinez revealed that Bitcoin traders have turned bearish despite the <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-price-recover-150000\/#:~:text=According%20to%20a%20crypto%20analyst,all%2Dtime%20highs%20above%20%24150%2C000.\" rel=\"nofollow\"><span style=\"font-weight: 400\">price recovery<\/span><\/a><span style=\"font-weight: 400\"> above $97,000. The crypto analyst mentioned that the percentage of traders on Binance betting BTC will rise has declined from 66.35% to 55.22% over the past 24 hours.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/dogecoin\/dogecoin-bull-cycle-price-20\/\">Analyst Says Dogecoin Has Entered Another Bull Cycle, Puts Price Above $20<\/a><\/div>\n<figure id=\"attachment_676070\" aria-describedby=\"caption-attachment-676070\" style=\"width: 460px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-676070\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2025\/01\/Bitcoin-1-1.png?w=460&#038;resize=460%2C331\" alt=\"Bitcoin 1\" width=\"460\" height=\"331\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2025\/01\/Bitcoin-1-1.png?w=512 512w, https:\/\/wncen.com\/wp-content\/uploads\/2025\/01\/Bitcoin-1-1.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2025\/01\/Bitcoin-1-1.png?w=120 120w\" sizes=\"auto, (max-width: 460px) 100vw, 460px\"><figcaption id=\"caption-attachment-676070\" class=\"wp-caption-text\">Source: X<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">This development is significant as these <\/span><a href=\"https:\/\/wncen.com\/bitcoin-news\/53-of-binance-traders-are-shorting-bitcoin-what-does-this-mean-for-price-action\/\"><span style=\"font-weight: 400\">Binance traders<\/span><\/a><span style=\"font-weight: 400\"> have a track record of being right most of the time. While most traders (55.22%) are still longing BTC, the decline in those betting on a rise suggests that there is the possibility that the recent price recovery is just a relief bounce and not a bullish reversal.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The Bitcoin price has recovered above $97,000 after dropping to below $90,000 two days ago. This recent rally could pave the way for the flagship crypto to reclaim the psychological $100,000 price level. Crypto analyst Jelle is confident that this could happen soon, as he stated that a <\/span><a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-price-crash-to-89000\/\"><span style=\"font-weight: 400\">price breakout above $97,000<\/span><\/a><span style=\"font-weight: 400\"> could lead to new highs for Bitcoin.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, there is still a lot of market uncertainty, which could explain why some of these Bitcoin traders are choosing not to bet on a further rally despite the recent price recovery. Recent macro data have suggested that the <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-reserve-dumbest-idea-ever-fed\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Federal Reserve<\/span><\/a><span style=\"font-weight: 400\"> is unlikely to implement as many quantitative easing (QE) policies as compared to last year.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">This is bearish for the Bitcoin price since investors could become more skeptical about investing in this risk asset. On the other hand, Donald Trump\u2019s incoming administration provides some optimism for market participants since the US president-elect has promised to create a Strategic Bitcoin Reserve, which would lead to greater adoption of BTC.\u00a0<\/span><\/p>\n<h2>BTC\u2019s Market Structure Has Changed<\/h2>\n<p><span style=\"font-weight: 400\">Crypto analyst <\/span><a href=\"https:\/\/bitcoinist.com\/dogecoins-tracks-50-arnaud-legoux-moving\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Trader Tardigrade<\/span><\/a><span style=\"font-weight: 400\"> also provided a bullish outlook for the Bitcoin price. In an X post, he stated that Bitcoin has shifted the market structure from a downtrend to an uptrend. He explained that when BTC was in a downtrend with lower highs and lower lows, it created an equal high, signaling a \u201cchange of character.\u201d<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-price-crash-to-89000\/\">Analyst Who Predicted Bitcoin Price Crash To $89,000 Reveals Where BTC Is Headed Next<\/a><\/div>\n<figure id=\"attachment_676071\" aria-describedby=\"caption-attachment-676071\" style=\"width: 460px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-676071\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2025\/01\/Bitcoin-2-1.png?w=460&#038;resize=460%2C360\" alt=\"Bitcoin 2\" width=\"460\" height=\"360\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2025\/01\/Bitcoin-2-1.png?w=512 512w, https:\/\/wncen.com\/wp-content\/uploads\/2025\/01\/Bitcoin-2-1.png?w=460 460w\" sizes=\"auto, (max-width: 460px) 100vw, 460px\"><figcaption id=\"caption-attachment-676071\" class=\"wp-caption-text\">Source: X<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">Now, Bitcoin has broken through the resistance to form a higher high. According to Trader Tardigrade, if BTC maintains a higher low at the support\/ resistance flip level of $96,000, it could start the <\/span><a href=\"https:\/\/bitcoinist.com\/this-bitcoin-bull-cycle-might-be-the-longest-ever-top-analyst-explains-why\/#:~:text=Of%20Investment%20Scheme-,This%20Bitcoin%20Bull%20Cycle%20'Might%20Be%20The,Ever'%20%E2%80%93%20Top%20Analyst%20Explains%20Why&amp;text=Bitcoin%20has%20surged%20above%20the,with%20many%20anticipating%20further%20gains.\" rel=\"nofollow\"><span style=\"font-weight: 400\">bull run<\/span><\/a><span style=\"font-weight: 400\"> again. The analyst\u2019s accompanying chart showed that the flagship crypto could reclaim $100,000 and then rally to new highs.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">At the time of writing, the Bitcoin price is trading at around $97,300, up over 2% in the last 24 hours, according to <\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/bitcoin\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">data<\/span><\/a><span style=\"font-weight: 400\"> from CoinMarketCap.\u00a0<\/span><\/p>\n<figure style=\"width: 3286px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/1YWr8pgC\/\" alt=\"Bitcoin price chart from Tradingview.com\" width=\"3286\" height=\"1518\"><figcaption class=\"wp-caption-text\">BTC price faces resistance above $97,000 | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">BTCUSD on Tradingview.com<\/a><\/figcaption><\/figure>\n<div class=\"disclaimer-shortcode\">Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Bitcoin price has recovered above $97,000, providing a bullish outlook for the flagship crypto. Despite this development, BTC traders still look apprehensive as their strategy suggests they are still bearish on the current price action.\u00a0 Bitcoin Traders Turn Bearish Following Price Recovery In an X post, crypto analyst Ali Martinez revealed that Bitcoin traders have turned bearish despite the price recovery above $97,000. The crypto analyst mentioned that the percentage of traders on Binance betting BTC will rise has declined from 66.35% to 55.22% over the past 24 hours.\u00a0 Related Reading: Analyst Says Dogecoin Has Entered Another Bull Cycle, Puts Price Above $20 This development is significant as these Binance traders have a track record of being right most of the time. While most traders (55.22%) are still longing BTC, the decline in those betting on a rise suggests that there is the possibility that the recent price recovery is just a relief bounce and not a bullish reversal.\u00a0 The Bitcoin price has recovered above $97,000 after dropping to below $90,000 two days ago. This recent rally could pave the way for the flagship crypto to reclaim the psychological $100,000 price level. Crypto analyst Jelle is confident that this could happen soon, as he stated that a price breakout above $97,000 could lead to new highs for Bitcoin.\u00a0 However, there is still a lot of market uncertainty, which could explain why some of these Bitcoin traders are choosing not to bet on a further rally despite the recent price recovery. Recent macro data have suggested that the Federal Reserve is unlikely to implement as many quantitative easing (QE) policies as compared to last year.\u00a0 This is bearish for the Bitcoin price since investors could become more skeptical about investing in this risk asset. On the other hand, Donald Trump\u2019s incoming administration provides some optimism for market participants since the US president-elect has promised to create a Strategic Bitcoin Reserve, which would lead to greater adoption of BTC.\u00a0 BTC\u2019s Market Structure Has Changed Crypto analyst Trader Tardigrade also provided a bullish outlook for the Bitcoin price. In an X post, he stated that Bitcoin has shifted the market structure from a downtrend to an uptrend. He explained that when BTC was in a downtrend with lower highs and lower lows, it created an equal high, signaling a \u201cchange of character.\u201d Related Reading: Analyst Who Predicted Bitcoin Price Crash To $89,000 Reveals Where BTC Is Headed Next Now, Bitcoin has broken through the resistance to form a higher high. According to Trader Tardigrade, if BTC maintains a higher low at the support\/ resistance flip level of $96,000, it could start the bull run again. The analyst\u2019s accompanying chart showed that the flagship crypto could reclaim $100,000 and then rally to new highs.\u00a0 At the time of writing, the Bitcoin price is trading at around $97,300, up over 2% in the last 24 hours, according to data from CoinMarketCap.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":667364,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[167,428,656,679,1119,89185,1122,1144,78790,6664,26263,14690],"class_list":["post-676048","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-analyst","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-analyst","tag-crypto-news"],"acf":[],"yoast_head":"\n<title>Bitcoin Traders Turn Bearish Despite Price Recovery Above $97,000, Here Are The Numbers<\/title>\n<meta name=\"description\" content=\"The Bitcoin price has recovered above $97,000, providing a bullish outlook for the flagship crypto going forward.\" \/>\n<meta name=\"robots\" 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. 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