BTC In Its “Most Bearish Stage” Since November 2022: Should You Purchase the BTCUSDT Dip?

Is the fact that Bitcoin is currently in its “least uptrend phase” since November 2022 a prime chance to purchase the BTCUSDT dip? With Bitcoin’s value stabilizing between $83,000 and $88,000, a slowdown in big investor selling, and bullish investors looking for a price breakout above $90,000, are the bulls poised to charge ahead?

As of April 21, BTC continues to stabilize, fluctuating within a $5,000 corridor between $83,000 and $88,000. This sideways trend follows a series of declining lows, with the top digital currency dropping from $109,000 in January 2025 to $74,500 in April 2025.

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Bitcoin in Its “Least Bullish Phase” in More Than Two Years

Despite the dominance of sellers, the bullish observed since Q4 2024 remains intact. Many bulls anticipate that Bitcoin’s price will rebound in the upcoming trading sessions, directing funds into some of the most promising presales in 2025. This outlook stays valid as long as BTC maintains its position above the 2021 peaks, resisting further declines.

CryptoQuant analysts highlight that, although Bitcoin’s price stands at historical highs, well beyond the 2017 and 2021 peaks, the BTCUSDT price action is experiencing its “least optimistic phase” since November 2022.

Citing the CryptoQuant Bull Score Index, a sentiment measurement tool, analysts point out that the score has fallen to 20. According to their analysis, this figure frequently correlates with pessimistic trader sentiments and a low likelihood of a sustained upward trend in the near future. Furthermore, the index has lingered below 50 for 99.5% of the last two months, marking the longest such period since the 2022 bear trading market.

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In November 2022, BTC and other cryptocurrencies plummeted following the FTX collapse and the demise of several crypto hedge funds early that year. BTC reached a low of $15,800, prompting the emergence of some of the top Solana meme coins such as BONK. Nevertheless, this decline signified a price bottom.

Even though market sentiment drastically fell and investors steered clear of crypto, it marked a turning point. Within a few months, Bitcoin started posting higher highs, soaring to $50,000 in the latter half of 2024 and further increasing after Donald Trump’s presidential victory in November 2024.

Is It Time to Acquire the BTCUSDT Dip?

If past performance is any indication and BTC is at cycle troughs, could this period of consolidation represent an ideal moment to capitalize on the BTCUSDT dip, or are Bitcoin holders facing more challenges?

Assessing the BTCUSDT price movements, bulls have found it difficult to breach the $90,000 mark, with sellers still maintaining control despite overall optimism. The last instance bulls exceeded $90,000 was in early March. Since then, Bitcoin’s price has fallen below $80,000, testing 2021 highs. For bulls to reclaim dominance, a close above $90,000 is essential to stimulate buyer interest and push prices beyond $100,000.

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There is optimism. CryptoQuant analysts note that Bitcoin whales have reduced their selling activity. The daily Bitcoin sales from major holders have decreased from 800,000 BTC in late February to about 300,000 Bitcoin last week. This decline implies that capitulation may be dwindling, which is encouraging for bulls.

Nevertheless, for bulls to bolster their stance, accumulation needs to accelerate. While big investor selling has lessened, whale assets have also diminished by over 30,000 Bitcoin in the past week. Additionally, their monthly accumulation rate decreased from 2.7% in March to merely 0.5%, the lowest since February 20. This decline indicates that confidence remains fragile, with no strong commitment among large investors.

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