Did Bitcoin bottom at $92K? These 3 BTC charts say the worst is over
Summary
Bitcoin (BTC) fell 11% from January 7 to January 9, dropping below $92,000 for the first time in nine days, resulting in over $257.5 million in liquidated long positions. This decline coincided with profit-taking and uncertainty surrounding US President-elect Donald Trump. The Spent Output Profit Ratio (SOPR) dropped to 0.98, indicating short-term holders are selling at a loss, which may suggest a market bottom and potential buying opportunity. The Entity-adjusted Dormancy Flow fell to 210,000, historically signaling a good buy zone before price recoveries. Long-term holder supply distribution peaked, indicating a transition from distribution to accumulation, which often aligns with market bottoms.
