Is Bitcoin Price Witnessing A Relief Rally? What On-Chain Data Says
The Bitcoin worth seems to be to be off to a great start, having spent many of the new yr above the psychological $90,000 mark. While the premier cryptocurrency has slowed down in latest days, there was a show of great bullish intent out there thus far in 2026.
Now, this newest present of optimism considerably contradicts latest predictions that the Bitcoin worth is likely to be firstly of a bear market. This begs the query — may the bull run be nearing a restart, or is the worth of BTC solely witnessing a reduction rally?
BTC’s Recent Bounce A Mere Bear Market Relief Rally — Analyst
In a January 9 submit on the X platform, crypto analyst Maartunn shared fascinating information factors to reply the query of whether or not Bitcoin’s newest worth bounce is significant or only a reduction rally. The market pundit anchored their reply on each on-chain and technical worth information.
Firstly, Maartunn acknowledged that the latest leap was solely certain to occur, because the Bitcoin worth discovered assist across the ETF Realized Price at $85,000. This worth degree represents the typical value foundation of BTC ETF buyers, and as anticipated, the consumers defended their positions — resulting in the worth bounce.
This phenomenon is spotlighted by one other on-chain metric, the Coinbase Premium Gap, which measures the distinction between the Bitcoin worth on Coinbase and world exchanges. According to Maartunn, the metric began to rise proper after New Year’s Eve, signaling renewed shopping for exercise from US-based buyers.
Furthermore, the spot exchange-traded funds began seeing sturdy capital inflows days after this uptick within the Coinbase Premium Gap. “This seems to be extra like strategic shopping for/portfolio rebalancing (new quarter, new yr) than emotional FOMO,” Maartunn added.
However, the crypto analyst famous that the rally solely noticed the Bitcoin Price climb to the vary high at $94,000 earlier than getting rejected. In essence, this means that the flagship cryptocurrency doesn’t possess the bullish energy to breach that resistance.
Additionally, Maartunn talked about that Bitcoin continues to be buying and selling beneath essential on-chain ranges just like the Short-Term Holder Realized Price and Whale Realized Price, each of that are performing as important overhead resistance.
The on-chain analyst famous that the on-chain observations counsel that this latest bounce is merely a bear market reduction rally, not a pattern continuation — although the worth is up by about 10%. Only a clear break and sustained shut above the $94,000 would point out the Bitcoin worth’s sturdy intent to rebuild a bullish construction, Martunn concluded.
Bitcoin Price At A Glance
As of this writing, the worth of BTC stands at $90,360, reflecting an virtually 1% decline prior to now 24 hours.
