Well, I’ll be hornswoggled! Bitcoin, that digital contraption, has done clambered above \$109,000, givin’ a bit of a kick to the cryptocurrency market. ‘Twas a welcome sight, I reckon, after that hullabaloo ‘tween Trump and Musk last week, which nearly sent the whole shebang down to \$100,000. Seems like them fellas squabbling can move markets faster than a Mississippi steamboat! 🚢
One o’ them market fellas, a regular know-it-all, reckons this here rally “may have more room to run.” More room, you say? Like a politician’s promises? 🤔
Bullish Trend Remains Intact, Says He
Bitcoin, it seems, has busted outta its short-term slump after a bullish breakout from some triangle pattern. Now, I ain’t no mathematician, but that sounds like somethin’ a fella drew on a napkin after too much whiskey. This Markus Thielen fella, a crypto analyst of some renown, says he thought things would be quiet this summer, but this rally’s got fresh capital behind it, what with them tariff worries fading faster than a cheap suit in the rain. 🌧️
In the latest edition of Matrixport analysis – sounds like somethin’ outta a sci-fi novel, don’t it? – Thielen points to steady momentum, even with the Consumer Price Index data comin’ up this week. He figures it ain’t gonna stop Bitcoin’s gallop. Seems like nothin’ can these days. 🐎
The markets, they’ve gone and reduced expectations for them Federal Reserve rate cuts to just one this year. Means the US economy’s tougher than a boiled owl, apparently. Thielen also says Bitcoin’s still on the up-and-up, long as it stays above \$105,075. That’s the magic number, folks. Remember it! 🔮
Reduced Sellin’ Pressure, You Betcha!
Now, some fancy on-chain data backs up this here technical mumbo jumbo. According to Glassnode, a blockchain analytics firm – sounds like a bunch of fellas starin’ at screens all day – realized profit from long-term Bitcoin holders has plummeted. Down 89%! From \$126 million to \$13.6 million. That’s a heap o’ money gone missin’! 💸
The data shows that even though Bitcoin’s at the same price as it was in late May, them seasoned investors, the ones who’ve been holdin’ on for over a year, ain’t sellin’ near as much. They’re holdin’ tighter than a miser to his gold! 💰
This here sharp drop in sellin’ pressure from them experienced fellas suggests they ain’t too keen on takin’ profits at these prices. They must be expectin’ Bitcoin to go to the moon! Or maybe they just plumb forgot they had any. Either way, it’s a curious state of affairs, ain’t it? 🤔
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2025-06-11 09:24