{"id":687886,"date":"2025-02-01T00:30:25","date_gmt":"2025-02-01T00:30:25","guid":{"rendered":"https:\/\/wncen.com\/?p=687886"},"modified":"2025-01-31T16:56:09","modified_gmt":"2025-01-31T16:56:09","slug":"bitcoin-eyes-108k-can-bulls-sustain-momentum-against-bearish-signals","status":"publish","type":"post","link":"https:\/\/wncen.com\/bitcoin-news\/bitcoin-eyes-108k-can-bulls-sustain-momentum-against-bearish-signals\/","title":{"rendered":"Bitcoin Eyes $108K: Can Bulls Sustain Momentum Against Bearish Signals?"},"content":{"rendered":"

Bitcoin has recently faced a slowdown in its upward trajectory after reaching over $105,000 earlier this week. The cryptocurrency had shown signs of a potential breakout, but key indicators have come into focus as the market evaluates its next move.<\/p>\n

The latest insights from analysts have raised questions about whether Bitcoin\u2019s market momentum<\/a> can overcome the resistance level at $108,000, its previous all-time high.<\/p>\n

Related Reading: MVRV Ratio Reveals Bitcoin\u2019s Market Position Amid Short-Term Selling Pressure<\/a><\/div>\n

Analyzing Bitcoin\u2019s Market Indicators<\/h2>\n

Amid the price performance from BTC, CryptoQuant analyst ShayanBTC has provided insights<\/a> on the challenges and possibilities ahead<\/a> for Bitcoin. Shayan noted that despite Bitcoin\u2019s recent price increases, the funding rates\u2014a critical on-chain indicator\u2014have started to decline.<\/p>\n

This bearish divergence suggests that demand in perpetual markets may be weakening, casting doubt on whether the current bullish momentum is sufficient to push Bitcoin above its all-time high.<\/p>\n

\"Bitcoin
Bitcoin funding rates on all exchanges. | Source: CryptoQuant<\/figcaption><\/figure>\n

Particularly, one of the primary hurdles for Bitcoin\u2019s price to surpass $108,000 is the lack of strong market enthusiasm, as reflected in the funding rates. According to Shayan, typically, rising funding rates indicate an increase in long positions and market optimism<\/a>.<\/p>\n

However, the current decline in these rates signals that traders are hesitant to bet on further price increases. Shayan emphasized that without a significant boost<\/a> in optimism and a greater influx of long positions, Bitcoin\u2019s resistance at $108,000 could hold firm, potentially leading to a consolidation phase or even a temporary price rejection. The analyst wrote:<\/p>\n

\n
\n
For Bitcoin to decisively breach $108K, the funding rates must rise further, signaling an increase in optimism and a greater influx of long positions. Without this market-wide enthusiasm, the resistance at $108K could hold, leading to potential consolidation or a temporary rejection.<\/div>\n<\/blockquote>\n

Indication from Long-Term Holders Metric<\/h2>\n

On the other hand, long-term holders\u2014investors who have maintained their Bitcoin holdings for seven years or more\u2014have shown no inclination to sell their assets. Another CryptoQuant analyst reporting this in a post on the QuickTake platform noted<\/a>:<\/p>\n

Holders who have held bitcoin for seven years or more sold some of their holdings before the end of the previous bull market. Long-term bitcoin holders have not yet moved their holdings to exchanges.<\/p><\/blockquote>\n

\"Bitcoin
Bitcoin Long-Term Holders Metric. | Source: CryptoQuant<\/figcaption><\/figure>\n

This behavior highlights a trend seen in previous market cycles: long-term holders often remain resilient through price fluctuations, providing a steady base of support for the cryptocurrency.<\/p>\n

Related Reading: Bitcoin Price Enters Ascending Phase After Cup And Handle Formation At $105,000, Here\u2019s The Next Target<\/a><\/div>\n

The decision of these holders to keep their Bitcoin off exchanges suggests confidence in the asset\u2019s long-term value, even as short-term market sentiment fluctuates.<\/p>\n

Featured image created with DALL-E, Chart from TradingView<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Bitcoin has recently faced a slowdown in its upward trajectory after reaching over $105,000 earlier this week. The cryptocurrency had shown signs of a potential breakout, but key indicators have come into focus as the market evaluates its next move. The latest insights from analysts have raised questions about whether Bitcoin\u2019s market momentum can overcome the resistance level at $108,000, its previous all-time high. Related Reading: MVRV Ratio Reveals Bitcoin\u2019s Market Position Amid Short-Term Selling Pressure Analyzing Bitcoin\u2019s Market Indicators Amid the price performance from BTC, CryptoQuant analyst ShayanBTC has provided insights on the challenges and possibilities ahead for Bitcoin. Shayan noted that despite Bitcoin\u2019s recent price increases, the funding rates\u2014a critical on-chain indicator\u2014have started to decline. This bearish divergence suggests that demand in perpetual markets may be weakening, casting doubt on whether the current bullish momentum is sufficient to push Bitcoin above its all-time high. Particularly, one of the primary hurdles for Bitcoin\u2019s price to surpass $108,000 is the lack of strong market enthusiasm, as reflected in the funding rates. According to Shayan, typically, rising funding rates indicate an increase in long positions and market optimism. However, the current decline in these rates signals that traders are hesitant to bet on further price increases. Shayan emphasized that without a significant boost in optimism and a greater influx of long positions, Bitcoin\u2019s resistance at $108,000 could hold firm, potentially leading to a consolidation phase or even a temporary price rejection. The analyst wrote: For Bitcoin to decisively breach $108K, the funding rates must rise further, signaling an increase in optimism and a greater influx of long positions. Without this market-wide enthusiasm, the resistance at $108K could hold, leading to potential consolidation or a temporary rejection. Indication from Long-Term Holders Metric On the other hand, long-term holders\u2014investors who have maintained their Bitcoin holdings for seven years or more\u2014have shown no inclination to sell their assets. Another CryptoQuant analyst reporting this in a post on the QuickTake platform noted: Holders who have held bitcoin for seven years or more sold some of their holdings before the end of the previous bull market. Long-term bitcoin holders have not yet moved their holdings to exchanges. This behavior highlights a trend seen in previous market cycles: long-term holders often remain resilient through price fluctuations, providing a steady base of support for the cryptocurrency. Related Reading: Bitcoin Price Enters Ascending Phase After Cup And Handle Formation At $105,000, Here\u2019s The Next Target The decision of these holders to keep their Bitcoin off exchanges suggests confidence in the asset\u2019s long-term value, even as short-term market sentiment fluctuates. Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":688078,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[428,94140,629,78790,10923,83531],"class_list":["post-687886","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-anlaysi","tag-bitcoin-market","tag-btcusdt","tag-crypto-market","tag-cryptoquant"],"acf":[],"yoast_head":"\nBitcoin Eyes $108K: Can Bulls Sustain Momentum Against Bearish Signals?<\/title>\n<meta name=\"description\" content=\"Bitcoin has recently faced a slowdown in its upward trajectory after reaching over $105,000 earlier this week. 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/wncen.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Eyes $108K: Can Bulls Sustain Momentum Against Bearish Signals?","url":"http:\/\/wncen.com\/bitcoin-news\/bitcoin-eyes-108k-can-bulls-sustain-momentum-against-bearish-signals\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/bitcoin-news\/bitcoin-eyes-108k-can-bulls-sustain-momentum-against-bearish-signals\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2025\/01\/DALL\u00b7E-2025-01-31-16.35.27-A-high-stakes-visually-dramatic-image-depicting-Bitcoins-push-toward-the-108K-milestone-while-facing-bearish-resistance.-Center-a-glowing-golden-Bi.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2025\/01\/DALL\u00b7E-2025-01-31-16.35.27-A-high-stakes-visually-dramatic-image-depicting-Bitcoins-push-toward-the-108K-milestone-while-facing-bearish-resistance.-Center-a-glowing-golden-Bi.jpg?fit=1024%2C1024"},"articleSection":"Bitcoin News","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin anlaysi","bitcoin market","btcusdt","crypto market","cryptoquant"],"dateCreated":"2025-02-01T00:30:25Z","datePublished":"2025-02-01T00:30:25Z","dateModified":"2025-02-01T00:30:25Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Eyes $108K: Can Bulls Sustain Momentum Against Bearish Signals?\",\"url\":\"http:\\\/\\\/wncen.com\\\/bitcoin-news\\\/bitcoin-eyes-108k-can-bulls-sustain-momentum-against-bearish-signals\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/bitcoin-news\\\/bitcoin-eyes-108k-can-bulls-sustain-momentum-against-bearish-signals\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2025\\\/01\\\/DALL\\u00b7E-2025-01-31-16.35.27-A-high-stakes-visually-dramatic-image-depicting-Bitcoins-push-toward-the-108K-milestone-while-facing-bearish-resistance.-Center-a-glowing-golden-Bi.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2025\\\/01\\\/DALL\\u00b7E-2025-01-31-16.35.27-A-high-stakes-visually-dramatic-image-depicting-Bitcoins-push-toward-the-108K-milestone-while-facing-bearish-resistance.-Center-a-glowing-golden-Bi.jpg?fit=1024%2C1024\"},\"articleSection\":\"Bitcoin News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin anlaysi\",\"bitcoin market\",\"btcusdt\",\"crypto market\",\"cryptoquant\"],\"dateCreated\":\"2025-02-01T00:30:25Z\",\"datePublished\":\"2025-02-01T00:30:25Z\",\"dateModified\":\"2025-02-01T00:30:25Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2025\/01\/DALL\u00b7E-2025-01-31-16.35.27-A-high-stakes-visually-dramatic-image-depicting-Bitcoins-push-toward-the-108K-milestone-while-facing-bearish-resistance.-Center-a-glowing-golden-Bi.jpg?fit=1024%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/687886","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=687886"}],"version-history":[{"count":1,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/687886\/revisions"}],"predecessor-version":[{"id":688080,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/687886\/revisions\/688080"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/688078"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=687886"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=687886"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=687886"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}