Is Bitcoin's short-term correction or mid-term cycle? On-chain data reveals the market truth

2026-01-09 15:20:10

Abstract generation in progress

【Crypto World】Bitcoin falls below a key support level, looking very fierce. But on-chain data tells a different story.

Long-term holders are still holding on, and the VDD multiple remains low, what does this indicate? The sell-off mainly comes from short-term traders and leveraged liquidations, not from large investors fleeing. In other words, the market is consolidating, or still in the mid-cycle adjustment phase, far from the top.

Currently, Bitcoin is hovering around the demand zone of $88,000-$92,000. What’s next? Can it regain the $98,000-$102,000 level? That is the key to determining the subsequent trend. Short-term fluctuations don’t matter; what matters is the attitude of long-term holders— as long as they remain calm, the market still has potential.

BTC0,7%

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token_therapist

· 6h ago

Long-term holders are not panicking, indicating that the bottom consensus is still intact.

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MetaverseHomeless

· 01-10 22:36

Short-term traders are selling off again; only those who hold long-term are the real ones🫡

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GasFeeVictim

· 01-09 15:49

Breaking below the support level is breaking below - anyway, I already cut my losses long ago haha

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ReverseTradingGuru

· 01-09 15:29

88000, this level was repeatedly bottomed out at several times; short-term small investors are indeed taking losses.

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NoodlesOrTokens

· 01-09 15:29

Long-term holders are still holding on tightly, which means there's nothing to fear. Short-term fluctuations are just opportunities for bottom-fishing.

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InscriptionGriller

· 01-09 15:20

Ha, the 88 to 92 range is a meat grinder for cutting leeks. What are long-term holders holding on for? Honestly, they're just trapped. The real funds have long since left, and what's left are all bagholders—on-chain data is just deceiving you.

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