Big Cheds, the sage of the crypto world, has weighed in with his wisdom, pointing out that ETH is now chilling at a key moving average after its flirtation with the $2,700 zone. It’s like a tense drama where ETH finds itself between two powerful forces—its resistance level above and the promise of support below. Will it rise like a phoenix or fall into the depths of despair? Oh, the suspense!
He whispers ominously about the seemingly innocent surge in the global money supply—$111.9 trillion, to be exact—as if central banks were merely printing Monopoly money during their tea breaks. Meanwhile, gold and its shiny digital cousin watch from the sidelines, possibly chuckling behind their metaphorical hands. 🪙🖥️
Alas! The illustrious Bitcoin, once basking in the glory of an all-time high of $111,900, has now plummeted by a staggering 7%, settling at a mere $105,300. Meanwhile, the PEPE coin, which one might assume to be a jovial companion, has also succumbed to a 9% decline, falling from $0.00001625 to $0.00001475. While these fluctuations may appear trifling to the untrained eye, for Mr. Wynn, who dabbles in the perilous waters of ultra-high leverage, such movements have wrought havoc upon his financial standing.
Adam pointed out that Bitcoin has surged over 50% since Q1, right around the time new tariffs were slapped on like a bad haircut. This performance has solidified Bitcoin’s reputation as a safe haven asset amidst the rising tide of geopolitical tensions and economic uncertainty. Analysts like Capital Flows are convinced that the current bull case is rooted in macroeconomic conditions, not just ETF flows. Because who doesn’t love a good economic theory? 📈
The market cap, a staggering $4.84 billion, now teeters as the coin whispers sweet nothings about further decline, all amid the grand spectacle of US-China tariffs and political disarray. Surely, a party for the ages! 🍷🤡