The post Bitcoin Price May Approach $95,000 as Key Metrics Suggest Possible Market Bottom appeared on BitcoinEthereumNews.com.

Bitcoin is currently on the brink of reaching $95,000, driven by several on-chain metrics signaling a potential price bottom. Despite recent volatility, these indicators suggest a recovery pathway and a strategic entry point for investors interested in the cryptocurrency. “Adding some BTC spot here at $92.8K–frustrating price action, but have to buy these major support areas,” noted investor Sean Buckley on recent price levels. Bitcoin’s price is poised for potential recovery after several on-chain metrics indicate a possible bottom, signaling buying opportunities for investors. Bitcoin Indicators Suggest Recovery Potential with Price Near $95,000 Bitcoin (BTC) is navigating turbulent waters, recently falling below $92,000, a decline that sparked the liquidation of over $257.5 million in leveraged long positions. Despite this setback, multiple on-chain indicators are hinting that the worst may be over, paving the way for a potential recovery towards $95,000. These metrics indicate that price movements in the near future could provide valuable entry points for astute investors. Understanding the Importance of SOPR in Current Market Dynamics The Spent Output Profit Ratio (SOPR) is a pivotal indicator currently underscoring potential market shifts. As of January 10, SOPR has been recorded at 0.98, indicating that short-term holders (STHs) are realizing losses amidst the recent downturn. The market intelligence firm CryptoQuant expressed that this metric suggests capitulation, marking a significant psychological point for potential buyers. A key factor to consider is that a SOPR below 1 often precedes price recoveries, highlighting a potential opportunity for those looking to enter the market. Entity-Adjusted Dormancy Flow Indicates Market Strengthening Another noteworthy metric is the Entity-Adjusted Dormancy Flow, which offers insights into market health based on Bitcoin’s current market cap relative to its annualized dormancy value. This indicator recently dropped below the historical benchmark of 250,000, often regarded as a significant buy zone. The decline…

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Filed under: News - @ January 10, 2025 10:25 pm