“bitcoin-usd/”>BITCOIN: Is it Finally Time to Get Excited? 🤔”
- Speculators are getting a little less anxious, I guess. 🤷♂️ Long-term holders are bidding, and that’s a good sign, right? 🤔
- But, let’s not get ahead of ourselves. We need to see $91.5K before we can even think about a breakout. 🚀 And even then, it’s not a guarantee. 🤦♂️
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. 🤔 I mean, what does that even mean? 🤷♂️
“Market 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. 🙄 But, hey, at least we’re not in extreme fear mode anymore. 🙏
But, Swissblock says that the low-risk regime could attract new demand and liquidity, which is, like, totally a thing. 🤔 And, Cryp Nuevo is saying that we need to see $91.5K before we can even think about a breakout. 🚀 So, let’s just take it one step at a time, okay? 🙄
“Very 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And, investors are getting optimistic, as illustrated by the $420M BTC withdrawn from exchanges in the past week. 🤑 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. 📈 After selling during the ‘Trump pump,’ analyst Philip Swift noted they were bidding again. 🤔
“Long-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. 🤓
However, the Options market appears somewhat cautious, as put options traded at a slight premium. 🤑 This is, like, totally a thing. 🤔 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