Investors are demonstrating remarkable resilience in the Bitcoin market, piling into the leading cryptocurrency despite its recent dip below $105,000. While a significant price correction led to over $1.2 billion in crypto liquidations last week, underlying buying activity signals a potentially strong bullish rebound on the horizon.
Market Resilience: Investors Accumulate During Dip
Following the sharp price decline, on-chain data reveals a substantial surge in Bitcoin's net taker volume on Binance, hitting approximately $309 million. This marks the first positive net taker volume since October 10 and indicates aggressive buying pressure. Buy-taker volume represents market orders where traders are willing to buy immediately at the asking price, suggesting investors are actively accumulating Bitcoin rather than waiting for lower entry points. This robust accumulation activity, particularly around the crucial $105,000 liquidity zone, is often a precursor to local market bottoms and subsequent price recoveries.
Gold-to-Bitcoin Rotation Fuels Optimism
Renowned crypto analyst Amr Taha highlighted this buying pressure, reinforcing a positive outlook for Bitcoin. Further bolstering this sentiment, analyst Crypto Jebb anticipates a significant capital rotation from the gold market into Bitcoin. Jebb notes that gold is currently experiencing a strong bullish momentum, having become the first asset to surpass a $30 trillion market capitalization. He predicts that once gold undergoes a correction, the freed capital will likely flow into Bitcoin, pushing its price towards an impressive $150,000 by January. The current market dynamics, with strong spot accumulation contrasting with a lack of corresponding rise in Open Interest (OI) in leveraged derivatives, further suggest that this buying is fundamental and less speculative, setting the stage for a sustainable uptrend.
