This is typical behaviour following a dip below this important long-term moving average, as the market is saturated with negativity in the lead-up to this level. It will likely take a few more weeks of stability or positive momentum to draw the wider public into the market.
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On-chain data does not confirm sustained growth. Analyst Darkfost attributes the current price stabilisation to sellers running out of steam, rather than a return of buyers. Aggregate demand in the spot and futures markets is insufficient to trigger a reversal.
Based on four-year cycles, Alphractal hopes the bear market bottom is already taking shape and will be confirmed within the next couple of months.
Bloomberg has calculated that at least 12 companies that had been buying cryptocurrencies for their reserves have shifted their focus to AI-related sectors in recent months. This change in strategy has not yet helped to restore investor interest in the shares of such DAT companies.
The BitMart cryptocurrency exchange has announced a phased closure after nine years of operation. The platform will cease all operations definitively on 31 January 2027. The company did not specify the exact reason for the closure, citing “operational conditions, the market environment and future strategic direction”.
BitMine purchased an additional 9,946 ETH last week, bringing the total amount of Ethereum in its reserves to 5.79 million ETH. BitMine’s reserves now exceed 4.8% of the total Ethereum supply. Due to the asset’s value decline, the company remains at a loss of more than $8 billion, having purchased ETH at an average price of around $3.4K.