Bitcoin Plummets! Is the Crypto Party Over? 🎉📉

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Ah, the splendid world of Bitcoin! A realm where fortunes are forged and, oh dear, occasionally melted with the same ease as butter in a sauna. Today, our dear Bitcoin, once cavorting merrily on the heights of $90,000, has chosen to descend into the abyss, a mere $87,630 as of this very moment. Could it be that a bearish pattern, much akin to a brooding cloud, hovers ominously over it? The ever-mysterious Matrixport—a name to conjure with!—alerts us to this rather worrying trend, as the digital coin slips below its ascending broadening wedge. A drop of 6.78%, I dare say, is enough to make the stoutest heart quiver! 💔

#Matrixport Today 📈 – Feb 25 2025⬇️#Bitcoin Breaks Key Pattern: Caution Warranted Amid Low Trading Activity‼️#Crypto #BTC #CryptoFinance #CryptoMarket

— Matrixport Official (@Matrixport_EN) February 25, 2025

With the trading volume as lifeless as a cat on a rainy day, analysts warn that the likelihood of further decline becomes as apparent as a to-the-point existential crisis. “The demand for dip-buying is as scarce as a polite politician,” remarks none other than Markus Thielen, an independent analyst with a penchant for stating the obvious.

“The likelihood of a deeper decline is increasing, particularly since this break is occurring during a period of low trading activity, which may result in limited demand to buy the dip.”

Markus Thielen, independent analyst

Ah, but fret not, dear crypto enthusiasts! For the murky waters will surely calm, and our beloved Bitcoin might even rise again before the year takes its leave. However, with its current technical frailty, analysts are cautious—much like a cat approaching a bathtub. And it’s not just Bitcoin sulking in the corner; poor Ethereum (ETH) has joined in on the act, faltering below its crucial $2,600 to $2,800 support range, plummeting to a precarious $2,375. My, my, what a feeble carnival we find ourselves in!

$ETH could be heading for its worst February if it drops below $2400. 📉

Historically, February has been bullish for ETH, with only one red month in 2018. But with a 23% drop already, this could be another exception.

Macroeconomic uncertainty, including new tariffs from the…

— Spot On Chain (@spotonchain) February 25, 2025

As Spot On Chain prudently observes, Ethereum is on its way to suffer a February bout that could rival the worst of its kind—especially if it dips below that fateful $2,400 mark. The irony, dear friends! In previous years, February was a jubilant month for ETH, filled with hope and gains, except for that one gloomy 2018. But alas, with a sobering 23% drop already registered, this year appears to be a bitter exception. And it doesn’t end there! The grim specter of macroeconomic uncertainty looms, as if summoned by the waggling fingers of a weary magician. New tariffs from the Trump administration, or so we hear, add to this already heavy burden.

“Historically, February has been bullish for ETH, with only one red month in 2018. But with a 23% drop already, this could be another exception. Macroeconomic uncertainty, including new tariffs from the Trump administration, adds to the pressure.”

Spot On Chain

Meanwhile, in an amusing twist of fate, U.S. spot Bitcoin exchange-traded funds have felt the pinch, witnessing two consecutive weeks of outflows exceeding $500 million! A rather theatrical decline that echoes, like the clanging of distant bells, through the cryptocurrency realm leading up to February 21.

As we learned from the stalwart crypto journalists, Grayscale’s GBTC bore the biggest burden, with a staggering $60.08 million escaping as if it were fleeing from a rogue circus. Bitwise’s BITB and Fidelity’s FBTC didn’t fare much better, with outflows of $16.58 million and $12.47 million, respectively. Oh, the agony of modern finance!

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2025-02-25 12:08