{"id":981,"date":"2022-01-09T14:12:44","date_gmt":"2022-01-09T14:12:44","guid":{"rendered":"https:\/\/cryptoheretostay.com\/?p=981"},"modified":"2022-01-09T14:12:45","modified_gmt":"2022-01-09T14:12:45","slug":"bitcoin-performs-classic-bounce-at-40-7k-as-btc-price-comes-full-circle-from-january-2021","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=981","title":{"rendered":"Bitcoin performs classic bounce at $40.7K as BTC price comes full circle from January 2021"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<p>Bitcoin (BTC) bounced off what is for some a key level on Jan. 9, closely mimicking events from September 2021.\u00a0<\/p>\n<p><em>BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/p>\n<h2>&#8220;Shorters will get rekt&#8221; at $40,700<\/h2>\n<p>Data from Cointelegraph Markets Pro and TradingView\u00a0showed BTC\/USD reversing course at around $40,700 to subsequently pass $42,000.<\/p>\n<p>The behavior, while uninspiring for some, firmly reminded others of Bitcoin price behavior at the end of September, when $40,700 acted as a springboard which ultimately produced $69,000 all-time highs seven weeks later.<\/p>\n<p lang=\"en\" dir=\"ltr\">History and Context <br \/>40.7k $BTC https:\/\/t.co\/LqlkxxJ0BF pic.twitter.com\/neJlH6mnmN<\/p>\n<p>\u2014 Pentoshi  DM&#8217;S ARE SCAMS (@Pentosh1) January 8, 2022<\/p>\n<p>&#8220;Months have passed since September. And yet, BTC finds itself in the same situation, macro-wise,&#8221; trader and analyst Rekt Capital commented. <\/p>\n<p>&#8220;Still consolidating inside its macro Re-Accumulation range. In fact, $BTC is almost at the very same price point at which BTC bottomed on the September retrace.&#8221;\u00a0<\/p>\n<p>Macro commentaries regarding stricter economic policy from the United States Federal Reserve meanwhile continued.<\/p>\n<p>As last week, concerns focused on crypto markets&#8217; ability to thrive in an atmosphere without the extent of &#8220;easy money&#8221; availability, which has characterized the economy since March 2020.<\/p>\n<p>&#8220;Crypto diehards about to find out if it really was bubble: Rock-bottom rates &amp; trillions of dollars in CenBank money &amp; govt stimmy helped turbocharge prices of digital assets,&#8221; markets pundit Holger Zschaepitz argued in a recent Twitter post. <\/p>\n<p>&#8220;Can mkt hold up w\/o them? Bitcoin on course $40k w\/flat CenBank balance sheets.&#8221;<em>BTC\/USD vs. central bank balance sheet chart. Source: Holger Zschaepitz\/ Twitter<\/em><\/p>\n<h2>What difference a year makes<\/h2>\n<p>Further similarities came in the form of BTC\/USD exactly matching its position from the same day one year ago Saturday. A key difference, however, lay in sentiment.<\/p>\n<p><strong><em>Related:\u00a0Will this time be different? Bitcoin eyes drop to $35K as BTC price paints \u2018death cross\u2019<\/em><\/strong><\/p>\n<p>On January 8, 2021, the Crypto Fear &amp; Greed Index stood at 93\/100, flashing a warning that a local top should soon arrive and that the market had entered &#8220;extreme greed.&#8221;<\/p>\n<p> By contrast, this Saturday scored just 10\/100 \u2014 one of the Index&#8217;s lowest-ever readings deep within &#8220;extreme fear&#8221; territory.<\/p>\n<p><em>Crypto Fear &amp; Greed Index. Source: Alternative.me<\/em><\/p>\n<p>&#8220;BTC\u00a0Bulls are getting fearful. BTC Bears are getting greedy. Food for thought,&#8221; Rekt Capital added.<\/p>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-performs-classic-bounce-at-40-7k-as-btc-price-comes-full-circle-from-january-2021\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC) bounced off what is for some a key level on Jan. 9, closely mimicking events from September 2021.\u00a0 BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView &#8220;Shorters will get rekt&#8221; at $40,700 Data from Cointelegraph Markets Pro and TradingView\u00a0showed BTC\/USD reversing course at around $40,700 to subsequently pass $42,000. The behavior, while uninspiring for [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":982,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[2],"tags":[],"class_list":["post-981","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/981","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=981"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/981\/revisions"}],"predecessor-version":[{"id":983,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/981\/revisions\/983"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/982"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=981"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=981"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=981"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}