Bitcoin Prints 14 Hourly Green Candles, Longest Since 2017: Will Bull Run Continue?

Bitcoin’s latest performance has traders and analysts scratching their heads. The cryptocurrency printed a remarkable 14 consecutive hourly green candles, the longest streak in seven years. But with mixed market signals and massive liquidations, the question remains: Is this the start of a new bull run, or is it a false signal?

Bitcoin’s rally has captured the attention of market watchers, but as with all crypto movements, it’s a tale of two narratives. While some see this as a potential turning point, others are more cautious, analysing a variety of technical indicators.

A Streak Like No Other: 14 Consecutive Green Hourly Candles

Friday, January 9th, saw Bitcoin achieve a feat that had not been witnessed since 2017: 14 consecutive hourly green candles. This surge occurred between 9 PM GMT on January 9th and 11 AM GMT on January 10th, 2025. It’s a rare sight, one that has many questioning whether this marks the beginning of another sustained rally.

Historically, Bitcoin has been known for dramatic price movements, with occasional rapid price surges followed by sharp corrections. This latest streak is significant not only because of its length but also because it comes after a period of volatility. The cryptocurrency had recently experienced a drop to $91,771 before rebounding to a high of $95,770 in a matter of days.

Such a dramatic movement has left both traders and analysts speculating on what could be driving this price action. Is this an institutional player taking advantage of a dip, or is it simply the result of short-term momentum?

The Indicators: RSI, Whale Accumulation, and MACD

Bitcoin’s price trajectory has thrown up mixed signals, with different market indicators telling different stories. The Relative Strength Index (RSI) currently sits at 46.73, suggesting that sellers still have a slight edge. A reading under 50 indicates that more market participants are selling than buying, and this could point to further bearish pressure ahead.

However, there’s a glimmer of hope for bullish traders. The RSI’s gradient shows a pushback from buyers, which could signal that Bitcoin might soon break back above the $100,000 level. The market seems to be at a crossroads. While the RSI may suggest selling pressure, the slight uptick could indicate that the bulls are gathering strength.

Meanwhile, the Moving Average Convergence Divergence (MACD) indicator is flashing warning signs of a bearish divergence. The red signal line has crossed above the blue MACD line, traditionally a sign that the selling pressure is increasing. However, the lines are still close together, meaning that the market could shift quickly in either direction.

Whale Activity: Buying the Dip?

One of the most interesting aspects of Bitcoin’s recent price movements is the whale activity. Market data suggests that large buyers are actively accumulating Bitcoin during the recent dip. This is often a strong sign that major players expect further price increases and are positioning themselves ahead of the curve.

While retail traders have been hesitant, with many still recovering from the sharp downturns of 2024, institutional players seem to be more confident. As Bitcoin continues to hover around the $95,000 level, it’s clear that large players believe the digital asset is undervalued, even at these elevated prices.

In fact, many analysts suspect that institutional buyers could be setting up for a significant price rally in the near future, possibly as we approach the pro-crypto administration’s inauguration day. Political events often have a strong impact on market sentiment, and if Bitcoin’s major backers are betting on a favorable regulatory environment, that could fuel further bullish momentum.

Liquidations Soar: A Sign of Market Stress

Massive liquidations have rocked the crypto market in the past 24 hours, with a staggering $389.50 million wiped from the market. Of that amount, Bitcoin shorts accounted for $82.70 million. This level of market liquidation is significant and indicates that many traders were caught off guard by Bitcoin’s unexpected surge above the $95,000 price level.

The surge triggered a massive short squeeze, which pushed Bitcoin’s price even higher as short-sellers scrambled to cover their positions. While these events often signal increased volatility, they also highlight how fragile the market can be. The question now is whether these liquidations are a sign of stress or if they simply represent a typical shakeout before the next phase of price movement.

The liquidations may have been a result of speculative trading, as many investors believed Bitcoin’s price would remain bearish after its recent decline. As the price surged, shorts were quickly liquidated, causing a cascading effect that added to Bitcoin’s bullish momentum.

Will Bitcoin Reclaim $100,000?

As Bitcoin nears $95,000, analysts are cautiously optimistic. While there are clear signs of bullish momentum—such as whale accumulation and massive short liquidations—the market remains volatile. The RSI’s reading below 50 and the MACD’s bearish divergence indicate that there are still risks for the cryptocurrency.

That said, Bitcoin has often defied the odds in the past. If buyers continue to accumulate and short-sellers are forced out, it’s entirely possible that Bitcoin could make a run for $100,000. The digital asset’s ability to break above that psychological barrier would mark an important milestone, reigniting a rally that could potentially take it back to its all-time high.

Whether Bitcoin is headed for another bull run or will experience a correction in the short term remains to be seen. What is clear, however, is that the market is in a period of heightened uncertainty, and only time will tell whether the long streak of green candles is the beginning of something bigger.