AXEL (AXEL) news

Bitcoin January Slump Nothing New in ‘Post-halving Years’

Bitcoin has fallen 10% so far this month, but analysts say it has dropped between 25% and 30% in January in past post-halving markets. A major Bitcoin correction in the first month of a year after the blockchain sees a halving is historically not unusual, according to analysts who have compared previous cycles. “Bitcoin dumping in January has historically been a common occurrence in post-halving years,” crypto analyst Axel Bitblaze told his 123,000 X followers on Jan. 12. “We all know what happened after the 2017 and 2021 dumps.” Bitcoin has lost 10% so far this month in a fall from its high of $102,300 on Jan. 7 to just below $92,000 before recovering slightly to now hover around $94,000. In January 2021, the next most recent post-halving year, Bitcoin fell more than 25% from over $40,000 to just above $30,000 by the end of the month. It then skyrocketed 130% to a new all-time high of $69,000 by November. In January 2017, the year after the 2016 halving, Bitcoin slumped 30%, falling from $1,130 to $784. It then surged 2,400% that year, culminating in an all-time high of $20,000 by December. Source: CoinTelegraph Futures Market Updates The long/short ratio is slightly higher for Bitcoin markets than Ether markets. Bitcoin Futures Updates Total BTC Open Interest: $60.61B (+1.36%) BTC Volume (24H): $64.39B (+102.22%) BTC Liquidations (24H): $36.65M (Long)/$20.10M (Short) Long/Short Ratio: 49.08%/50.92% Funding Rate: 0.0085% Ether Futures Updates Total ETH Open Interest: $29.82B (+2.67%) ETH Volume (24H): $28.37B (+96.06%) ETH Liquidations (24H): $27.17M (Long)/$17.75M (Short) Long/Short Ratio: 48.88%/51.12% Funding Rate: 0.0088% Top 3 OI Surges AVAIL: $22.56M (+475.77%) ONT: $51.10M (+407.35%) PROM: $4.93M (+404.24%)