Share this article
Bitcoin's Bull Run Could be Tested if BTC Falls Below $91K: Van Straten
Bitcoin has had two 15% corrections since Donald Trump won the U.S. election.
Updated Jan 27, 2025, 11:26 a.m. Published Jan 27, 2025, 11:22 a.m.
What to know:
- Nasdaq futures have sold off as much as 4% due to concerns around China's DeepSeek AI model.
- Bitcoin's short-term holder cost basis is around $91,000, which is approximately a 15% correction from the all-time high.
Bitcoin fell just below $98,000, a near 10% drawdown from all time highs, with investors questioning the continuation of the bull run.
The fall was attributed to the concerns about China's DeepSeek Artificial Intelligence hyper-efficient model competing with the U.S. industry at a fraction of the cost.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Since President Trump won the U.S. election, bitcoin has jumped from $66,000 to new all-time highs of $109,000. During the rally BTC corrected as much as 15% twice, in addition to multiple double-digit drawdowns. Therefore, bitcoin's 10% drop seems in line with previous drawdowns.
A reliable indicator of support during a bull market is the short-term holder cost basis, which is the average on-chain cost for coins that have moved within the last 155 days. This level is around $91,000 at the moment, which means if BTC falls below that point it could put a strain on the bull run.
But bearish sentiment is already starting to heat up, as funding rates for bitcoin have started to go negative. Also Arthur Hayes, co-founder of Bitmex, is calling for a correction between $70,000-$75,000, before seeing $250,000. CoinDesk's Omkar Godbole also reported that bitcoin may drop to $75,000 should it trigger a so-called 'double top' bearish reversal pattern.
The drawdown hasn't been contained to just crypto; U.S. markets are selling off, with Nasdaq futures down as much as 4%.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
DOT Sinks 2% After Breaking Key Support
The Polkadot token erased earlier gains amid elevated volume, falling from a high of $2.09 to $1.97.
What to know:
- DOT collapsed through ascending trendline support around the $2.05 level on a massive 284% volume surge.
- The token broke decisively below the support level to trade 2% lower over the last 24 hours.
Top Stories
