Tuesday, July 1, 2025
Daily Crypto Post
  • Home
  • News
    • Altcoins News
    • Cryptocurrency News
  • Market
    • Price Analysis
  • About
  • Contact
No Result
View All Result
  • Home
  • News
    • Altcoins News
    • Cryptocurrency News
  • Market
    • Price Analysis
  • About
  • Contact
No Result
View All Result
Daily Crypto Post
No Result
View All Result

Bitcoin Price Action: Pullback or Continued Bullish Momentum? Analyst Weigh In

Irene Mukiri by Irene Mukiri
January 24, 2025
in Binance Feed, Market
Reading Time: 4 mins read
Bitcoin Price Action Pullback or Continued Bullish Momentum Analyst Weigh In
Share on FacebookShare on TwitterShare on RedditShare on Telegram
  • Bitcoin’s bull market remains intact, despite recent data errors and confusion.
  • Neutral PnL Index suggests Bitcoin is in a consolidation phase, not extreme fear.
  • BTC’s price above the 365-day moving average signals potential for upward momentum.

Bitcoin’s price action has been a topic of much debate, especially after recent signals pointed to potential pullbacks. On January 22, Ki Young Ju, the founder of CryptoQuant, shared insights about Bitcoin’s market trajectory, suggesting that Bitcoin could either pull back or trade sideways for months. 

However, he clarified that the bull market may not be over, as some on-chain indicators remain firmly bullish. This assertion comes after a data error that had previously created confusion, but Ki Young Ju retracted his earlier tweet, offering further clarification on the issue. Despite the confusion, the outlook for Bitcoin appears positive.

Related articles

Dogecoin ETF Prospects Strengthen as Approval Odds Hit 90% by 2025

Dogecoin ETF Prospects Strengthen as Approval Odds Hit 90% by 2025

July 1, 2025
Bloomberg Analysts Say Cardano ETF Has 90% Approval Odds in 2025

Bloomberg Analysts Say Cardano ETF Has 90% Approval Odds in 2025

July 1, 2025

This was a data error. #Bitcoin remains bullish. I sincerely apologize for the confusion. The previous tweets have been deleted. Details are in the thread. pic.twitter.com/MnFqGs8kwm

— Ki Young Ju (@ki_young_ju) January 24, 2025

Data Error and Bullish Sentiment

Ki Young Ju’s recent analysis pointed to a critical error in the data processing, particularly concerning PCA (Principal Component Analysis). A coding mistake had reversed the sign of a coefficient, which caused a temporary shift in the interpretation of Bitcoin’s on-chain signals. 

As a result, his team’s analysis of Bitcoin’s market cycle was initially skewed. The corrected data now suggests that the bull market is still intact. This updated view emphasizes Bitcoin’s continued bullish outlook, with significant on-chain metrics backing this conclusion.

Additionally, Jerry Yun, a developer at CryptoQuant, explained the technical details behind the error, shedding light on how PCA works. He noted that the sign of the solution’s eigenvector doesn’t impact the final result, ensuring that the trend analysis remains largely unchanged. 

Comment from our dev @JerryYun44:

Due to the nature of PCA, even if the sign of the eigenvector solution is reversed, it remains the same solution. This part was missing in the code.

For example, in the first training, the coefficient might be 0.3X1 – 0.1X2, and in the second… pic.twitter.com/3QBcOgpPDv

— Ki Young Ju (@ki_young_ju) January 24, 2025

The corrected PnL Index now more accurately reflects Bitcoin’s market conditions, reassuring investors that the cryptocurrency’s bull cycle is not over. This analysis provides a more reliable perspective, helping to ease market concerns.

Key Indicators for Bitcoin’s Next Move

Bitcoin’s price is currently hovering near $105,183, with a strong 24-hour trading volume of $97.4 billion. This price level is a critical point in the ongoing market cycle. 

The PnL Index, as seen in the updated chart, shows Bitcoin’s price moving above its 365-day moving average, which is historically a bullish signal. However, the current PnL Index is near neutral territory, indicating a market neither in extreme fear nor excessive euphoria.

Source: X

This neutral zone suggests that Bitcoin’s price is in a consolidation phase. If Bitcoin maintains its position above the 365-day moving average, there could be further upward momentum. 

However, caution is required as the market nears the overbought zone, which could signal potential sell pressure. Support levels, particularly near the $20K mark, are crucial for maintaining bullish sentiment.

Tags: Bitcoin (BTC) NewsPrice Analysis

Related Posts

Dogecoin ETF Prospects Strengthen as Approval Odds Hit 90% by 2025

Dogecoin ETF Prospects Strengthen as Approval Odds Hit 90% by 2025

by Veronicah Peninah
July 1, 2025

Dogecoin ETF has a 90% approval likelihood by 2025, with filings expected from Grayscale, Bitwise, and 21Shares. Filing deadline is...

Bloomberg Analysts Say Cardano ETF Has 90% Approval Odds in 2025

Bloomberg Analysts Say Cardano ETF Has 90% Approval Odds in 2025

by Jonathan Carls
July 1, 2025

Cardano, Dogecoin, and Polkadot ETFs each hold a 90% approval chance in 2025. Multi-asset crypto ETF with 95% odds could...

SEI Gains Momentum as Wyoming Stablecoin Bid Lifts Market Interest

SEI Gains Momentum as Wyoming Stablecoin Bid Lifts Market Interest

by Munene Timothy
June 30, 2025

SEI surged by 50% in a week after Wyoming shortlisted it for its WYST stablecoin, boosting investor sentiment and public...

Liquidity Concentration on CEXes Highlights Maturity and Gaps in Top Crypto Assets

Liquidity Concentration on CEXes Highlights Maturity and Gaps in Top Crypto Assets

by Irene Mukiri
June 30, 2025

XRP liquidity is concentrated on Bitget, Binance, and Coinbase, totaling 67% depth. Solana surpasses XRP in liquidity strength despite its...

ETH Holds Ground After Liquidity Sweep, Resistance Retest Signals Potential Move to $3,400

ETH Holds Ground After Liquidity Sweep, Resistance Retest Signals Potential Move to $3,400

by Veronicah Peninah
June 30, 2025

Ethereum holds support at $2,425.62 after a key liquidity sweep near $2,300, indicating buyer interest. Multiple rejections at $2,700–$2,800 show...

Load More

Recent News

  • Dogecoin ETF Prospects Strengthen as Approval Odds Hit 90% by 2025
  • Bloomberg Analysts Say Cardano ETF Has 90% Approval Odds in 2025
  • SEI Gains Momentum as Wyoming Stablecoin Bid Lifts Market Interest
  • Liquidity Concentration on CEXes Highlights Maturity and Gaps in Top Crypto Assets
  • ETH Holds Ground After Liquidity Sweep, Resistance Retest Signals Potential Move to $3,400

Popular News

  • JasmyCoin Sets Bold $17 Price Target by 2026 as User Adoption Surges

    JasmyCoin Sets Bold $17 Price Target by 2026 as User Adoption Surges

    227 shares
    Share 91 Tweet 57
  • Will SHIB’s Utility Tokens Fuel Its Rise Over TON?

    204 shares
    Share 82 Tweet 51
  • Solana: SOL Has Just Reclaimed $7 Billion in DeFi TVL

    231 shares
    Share 92 Tweet 58
  • Over $33M in Token Unlocks Set to Impact Crypto Markets Amid Escalating Global Tensions

    199 shares
    Share 80 Tweet 50
  • Aptos and Filecoin Lead the Next Layer 1 Push — Will They Sustain the Rally?

    195 shares
    Share 78 Tweet 49

Live Crypto News | Bitcoin and Altcoins News & Insights.

Recent News

Dogecoin ETF Prospects Strengthen as Approval Odds Hit 90% by 2025
Dogecoin ETF Prospects Strengthen as Approval Odds Hit 90% by 2025
July 1, 2025
Bloomberg Analysts Say Cardano ETF Has 90% Approval Odds in 2025
Bloomberg Analysts Say Cardano ETF Has 90% Approval Odds in 2025
July 1, 2025
SEI Gains Momentum as Wyoming Stablecoin Bid Lifts Market Interest
SEI Gains Momentum as Wyoming Stablecoin Bid Lifts Market Interest
June 30, 2025

© Daily Crypto Post. Live Crypto News | Bitcoin and Altcoins News & Insights. All Rights Reserved.

No Result
View All Result
  • Home
  • News
    • Altcoins News
    • Cryptocurrency News
  • Market
    • Price Analysis
  • About
  • Contact