Bitcoin (bitcoin) rebounded from a key level on January 9, very similar to the September 2021 event.

‘Short sellers will be rewarded’ at $40,700

data from Cointelegraph Market Pro and Transaction view Shows BTC/USD reversing around $40,700 and then over $42,000.

This behavior, while uninspiring to some, reminds others of Bitcoin’s price action in late September, when $40,700 served as a springboard to eventually hit an all-time high of $69,000 seven weeks later.

History and Background
40.7k $Bitcoin https://t.co/LqlkxxJ0BF pic.twitter.com/neJlH6mnmN

— Pentoshi DM is a scam (@Pentosh1) January 8, 2022

“It’s been a few months since September. However, from a macro perspective, BTC finds itself in the same situation,” trader and analyst Rekt Capital Comment.

“Still consolidating within its macro re-accumulation zone. In fact, $BTC is almost at the price point where BTC bottomed out on the September retracement.”

Meanwhile, the Fed’s macro comments on tighter economic policy continued.

as last week, the focus is on the ability of crypto markets to thrive without the availability of “easy money” that has characterized the economy since March 2020.

“Crypto diehards are about to find out if it’s really a bubble: rock-bottom interest rates and trillions of dollars in CenBank funding and government stimulus help drive up digital asset prices,” market expert Holger Zschaepitz debate in a recent Twitter post.

“Can mkt hold up without them? bitcoin Of course the 40kw/sq CenBank balance sheet. “

what a difference a year makes

A further similarity is that the BTC/USD pattern matches exactly the same Saturday as a year ago. A key difference, however, is emotion.

related: Will it be different this time?Bitcoin Eyes Drops to $35,000 as BTC Price Depicts ‘Death Cross’

January 8, 2021 Crypto Fear and Greed Index Sustained at 93/100, a warning that a local top should come soon, the market has entered “extreme greed”.

In contrast, this Saturday’s score was just 10/100 – one of the lowest readings on the index in the “extremely fearful” range.

“BTC bulls are getting scared. BTC bears are getting greedy. Food for thought,” Rekt Capital Add to.