BITCOIN: Is it Finally Time to Get Excited? πŸ€”

bitcoin-usd/”>BITCOIN: Is it Finally Time to Get Excited? πŸ€””

BITCOIN: Is it Finally Time to Get Excited? πŸ€”

  • Speculators are getting a little less anxious, I guess. πŸ€·β€β™‚οΈ Long-term holders are bidding, and that’s a good sign, right? πŸ€”
  • But, let’s not get ahead of ourselves. We need to see $91.5K before we can even think about a breakout. πŸš€ And even then, it’s not a guarantee. πŸ€¦β€β™‚οΈ

So, Bitcoin is up to $88K, and people are getting a little hopeful. 🀞 But, let’s not forget, we’re still in a “low-risk regime” according to Swissblock. πŸ€” I mean, what does that even mean? πŸ€·β€β™‚οΈ

β€œMarket risk easing…Now below the 25 threshold, signaling a shift into a low-risk regime. A key step in the bottoming process. Reduces the likelihood of a sharp drop but doesn’t guarantee a breakout.”

Bitcoin breakout prospects

And, of course, the Crypto Fear and Greed Index is up to 47, which is, like, totally neutral. πŸ™„ But, hey, at least we’re not in extreme fear mode anymore. πŸ™

But, Swissblock says that the low-risk regime could attract new demand and liquidity, which is, like, totally a thing. πŸ€” And, Cryp Nuevo is saying that we need to see $91.5K before we can even think about a breakout. πŸš€ So, let’s just take it one step at a time, okay? πŸ™„

β€œVery good reaction from the 1W50EMA, our buy zone and likely bottom of this correction. We’ll be out of the woods once/if we can flip $91.5k which was the previous range lows.”

And, investors are getting optimistic, as illustrated by the $420M BTC withdrawn from exchanges in the past week. πŸ€‘ In fact, on the 24th of March, $220M BTC was moved from exchanges, reiterating an accumulation spree. 🀯

And, long-term holders are bidding again, as illustrated by 1-year HODL waves. πŸ“ˆ After selling during the ‘Trump pump,’ analyst Philip Swift noted they were bidding again. πŸ€”

β€œLong-term BTC holders have stopped selling their BTC around $100k. +1 Year HODL Wave is now trending back up. Expect this to trend down again only once we are comfortably above $100k.”

Per the chart, the +1 year HODL cohort typically bids during market fears and dumps and then sells during price rallies. 🀯 But, hey, maybe they’re getting smarter. πŸ€“

However, the Options market appears somewhat cautious, as put options traded at a slight premium. πŸ€‘ This is, like, totally a thing. πŸ€” And, the early April expiry has a 25RR of -2.5 and -2.73, further reinforcing traders’ caution in the first half of next month. 🀯

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2025-03-26 23:07