Bitcoin: Is the Bullish Party Finally Here, Or Is It Just a Tease?

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Well, well, well… look who’s back at it again! Bitcoin (BTC) is hanging around the $84,500 mark after a rollercoaster ride that had investors screaming “We’re gonna crash!” One minute you’re on top of the world, the next, you’re wondering if you should just buy a llama farm. But hey, it’s been a wild time for BTC, so what else is new?

Now, let’s talk about the big fish, the whales, those who love swimming in the deep end of the crypto ocean. According to the all-knowing Glassnode, wallets with over 10,000 BTC are gobbling up more coins like it’s Black Friday at a crypto store. It’s almost like they know something we don’t… spooky, right?

And then t

Whales holding >10K $BTC maintain a strong accumulation trend (~0.7), continuing to lead the market. Smaller cohorts – from <1 $BTC to 100 $BTC – are easing off their distribution, with the 10–100 $BTC group now hovering around 0.5, hinting at a potential pivot toward…

— glassnode (@glassnode) April 18, 2025

Meanwhile, small-time investors are starting to calm down and stop their mass sell-offs. Maybe they realized selling off isn’t the new buying? Who knows, maybe they’re just tired of crying over their empty wallets.

Are We About to See a Bullish Frenzy? Who Knows! 🤷‍♂️

Glassnode’s insights this week dropped the bombshell: long-term holders aren’t running to the hills with unrealized losses. When long-term holders start panicking, it usually means the bear market is about to be confirmed. But nope, they’re just chillin’ for now, which is giving us bulls a little bit of hope. Maybe this will be our moment to shine?

And guess what? The crypto guru Ali Martinez is also on the bull side of things, sharing that over 15,000 BTC have been withdrawn from centralized exchanges in the past week. Cold storage is looking mighty cozy right now. Investors are clearly prepping for the next big bull rally. Let’s hope they’re not just packing for a long vacation to the land of “maybe it’ll go up one day.”

Over 15,000 #Bitcoin $BTC have been withdrawn from exchanges in the past week!

— Ali (@ali_charts) April 18, 2025

On April 17, Glassnode was like, “Hey, did you notice that Bitcoin’s realized cap just hit a shiny new all-time high of $872 billion?” Yeah, that’s awesome. But here’s the kicker: the inflow rate is slowing down. It’s like showing up to a party only to realize half the guests already left. Looks like there’s some “risk-off” sentiment going around. 😬

#Bitcoin’s realized cap has reached an all-time high of $872B, yet monthly growth has slowed to +0.9%. This indicates that while capital inflows remain positive, investor appetite is softening – signaling continued risk-off sentiment.

— glassnode (@glassnode) April 17, 2025

BTC Price Outlook (Because, Why Not?) 💸

Alright, folks, here’s where it gets fun. If you peek at the daily BTC price chart, you’ll see the RSI sitting at a comfy 52. This means the price could go up or down. It’s like flipping a coin, but with a lot more potential for regret. If the RSI dips below 47, prepare for a possible dip to around $80,000. Hold onto your seats! If the price stays above $84,600, well, maybe we’ll be eyeing $90,000 soon. But, hey, what do we know?

BTC price chart | Source: Trading View

Let’s not forget about those pesky Bollinger Bands. They’re tight right now, hovering near the upper band at $84,600. If BTC stays above the middle band (which is $84,600, just to confuse you further), we might see a little bump toward $90,000. But that resistance around $87,000–$88,500 is like that one friend who keeps saying, “I’m just here for the snacks.”

The blue MACD line is also flexing above the orange line with green histogram bars—yeah, sounds fancy. What does this mean? Short-term momentum is looking up! That’s right, folks, upward. Hold your applause.

BTC price chart | Source: Trading View

And

Finally, Crypto Ceaser (sounds legit, right?) says that breaking the EMA50 is key. If BTC can crack that, we might finally see the long-term bullish reversal we’ve all been waiting for. But first, let’s tackle the $87,000 resistance zone. It’s like a high school bully you just can’t shake off.

It’s important for $BTC – #Bitcoin to break the EMA50.

— Crypto Caesar (@CryptoCaesarTA) April 17, 2025

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2025-04-18 20:02