Bitcoin’s Big Chill: Will $100K Save the Day? 🤔

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  • Bitcoin is having a bit of a snooze, but don’t worry, it’s not quite time to hit the panic button… yet! 😴
  • Those clever long-term holders are still snapping up coins, and the ETF inflows are giving the bulls a glimmer of hope 🌟

Now, let’s get down to business and take a gander at the technical analysis and MVRV pricing bands, shall we? 📊 It seems that the $102.5k support level is the magic number to watch.

Over the past 24 hours, Bitcoin has taken a couple of dips to $104k, but it’s been climbing back up, and at the time of writing, it’s trading at a rather respectable $104.6k 📈

This is all quite thrilling, but what’s really going on? Well, it seems that those institutional short bets are putting a bit of pressure on BTC, which is a bit of a clue as to what’s coming next 🕵️‍♀️

But fear not, dear bulls! The strong ETF inflows are giving you a bit of hope to cling to 🌟 And it seems that the developments in the Middle East aren’t having too much of an impact on Bitcoin at the moment 🌎

Now, let’s talk about the Bitcoin Heat Macro Phase, shall we? 🔥 It’s a rather clever metric that combines four key signals to figure out just how hot or cold the market is 🌡️

The four signals are the normalized MVRV Z-score, the aSOPR 14-day simple moving average, the LTH-STH cost basis, and the 10-day moving average of the ETF flow in dollars 📊

It seems that the peak rating of 0.45 came about on the 22nd of May, when Bitcoin made its high at $111k 📈 And then it cooled down to 0.39 by the 5th of June, when the price saw an accumulation phase around $101k 📊

At the time of writing, the value of 0.41 indicates that demand is resuming, and market activity is back to normal 📈 But if the Heat index falls below 0.39 in the coming days, it’s a sign that the market is in for an extended cooling phase ❄️

And if Bitcoin drops below the $100k mark, combined with a reading of 0.39 or lower, well… let’s just say that the bulls might be in for a bit of a disappointment 😔

But don’t worry, dear bulls! Despite the cooling market and stalled momentum, those long-term holders are still accumulating coins 📈 And the selling pressure is nothing like it was back in November-December 2024 🙅‍♂️

The spot taker CVD for the past 90 days shows that the taker buy volume is dominant 📊 It’s another sign that the bulls have hope for recovery 🌟

Of course, the geopolitical situation means that a sustained bull trend might take a bit of time to materialize 🌎 But for now, let’s just keep our fingers crossed and our eyes on that $100k mark 🤞

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2025-06-20 09:15