Bitcoin’s Price Twirls Again: Is the Dance Just Beginning? 😏

• Bitcoin, that fickle moneymaker, leaps flirtatiously back to $104.9k after a teasing touch of the $100k mark, all while the momentum plays hide and seek.
• Without a shiny new catalyst, BTC seems content to remain in its cozy range between $104k and $107k—a kind of digital limbo, if you will.

So here we are, dear reader, watching our beloved Bitcoin bounce with the flair of a Tokyo dancer, reaching up to $104.9k after naively testing the $100k floor, only to saunter back into its long, boring consolidation dance. Because, naturally, after a cozy retest, everyone with wallets greases up their fingers, and profit-taking becomes the day’s passion.

Thank goodness for long-term holders (LTHs), who, with a collective sigh of profit, begin selling their treasure like seasoned traders—smile and wave, folks! 📉

LTHs Start Selling—Profit’s Sweet Sneer

Glassnode, that wise old owl of on-chain data, informs us that long-term holders have resumed a mild-selling spree, gently liquidating their stash. The net position change stands at -14.2K BTC—more coins heading for the exit than from whence they came, a sort of digital lemonade stand running out of lemons.

Hence, the elder coins (literally the old-timers) are bidding adieu, especially as the market, in its currently sluggish mood, offers no shiny catalyst to lure new investors. Instead, it resembes a sleepy kitten, purring softly in a sunbeam.

Market’s Lazy Tug-of-War: No Incentive, No Drama

As it stands, our crypto adventurers find no desire to chase the rising star that is Bitcoin, raising fears of a temporary fall—perhaps a nap before the big dance. External factors remain aloof, and the market’s excitement is about as lively as a Monday morning.

Look at that! The 30-day volatility has sunk below 1, making the market as lively as a snail at a marathon. Investors are waiting in the wings for some grand event, but alas, liquidity is thin and patience is wearing thin. This low-volatility period, as all physics aficionados know, often precedes a grand bang—either a spectacular breakout or a spectacular breakdown. So, stay tuned; we’re on the cusp of something, perhaps a digital fireworks display or a quiet ghost town parade.

Is Early Distribution in Play? 🤔

Now, don’t jump the gun just yet, but the signs whisper—perhaps—of the first subtle hints of distribution. The Long-Term Holder Binary Coin-Days Destroyed Z-Score has jumped above 5, a fancy way of saying that old coins are being used and abused, much like grandma’s antique teapots at a garage sale.

If this pattern persists, and with no shiny new catalyst in sight, a correction—a gentle descent or a sudden plunge—may just be our fate.

If Bitcoin can’t hold above $100,413, the next stop might be near $97k—our digital tragedy or triumph awaiting its fate.

Meanwhile, short-term holders (STHs) seem indifferent, sitting tight like cats staring at a fish tank. Bitcoin remains under $107k—an area that would normally excite traders into a frenzy—but alas, apathy rules the day.

So, in the end, with volatility snoozing and long-term holders quietly selling, the most probable scenario is a leisurely sideway trot between $104k and $107k—like a treadmill with no end in sight, but with more flair.

Read More

• CRK Boss Rush guide – Best cookies for each stage of the event

• Fortress Saga tier list – Ranking every hero

• Glenn Greenwald Sex Tape Leak: Journalist Cites “Maliciously Political” Motives

• Mini Heroes Magic Throne tier list

• Grimguard Tactics tier list – Ranking the main classes

• Castle Duels tier list – Best Legendary and Epic cards

• Cookie Run Kingdom Town Square Vault password

• How to Prepare and Dominate the Awakened Hollyberry Cookie Update

• Hero Tale best builds – One for melee, one for ranged characters

• Overwatch Stadium Tier List: All Heroes Ranked

2025-06-07 14:21