Pray, allow me to impart the latest tidings on that most fickle of suitors, Bitcoin, currently parading about the ballrooms of finance at a modest $109,000. Though its steps have been but a whisper these past days, the weekly chronicles suggest a broader retreat, and whispers of continued pressure abound. 🕵️♀️
The wise analysts, ever vigilant, cast their gaze upon historical support levels, particularly those entwined with on-chain cost metrics. A most serious endeavor, indeed. 📈
Realized Price Levels Take Center Stage
Alas, Bitcoin has stumbled below the short-term holder (STH) realized price, which stands at a formidable $113,250. The long-term holder (LTH) realized price, a mere $36,910, lurks in the shadows. History, that fickle narrator, tells us that when Bitcoin forsakes the STH level, it oft descends toward the LTH price, a pattern as predictable as a gossip at a tea party. ☕
Ali Martinez, that astute observer, remarked:
Historically, when Bitcoin $BTC breaks below the STH Realized Price, it tends to fall under the LTH Realized Price too, now sitting at $37,000.
– Ali (@ali_charts) October 23, 2025
While Bitcoin remains far above the $37K range, traders, ever the nervous Nellies, track this zone with bated breath, lest selling deepen. Thus far, the LTH zone appears unthreatened, yet the setup echoes past downturns. 🌪️
Retail Selling on Binance Ascends
CryptoQuant data reveals a surge in selling activity from retail traders. On October 22, a staggering 13,000 BTC-valued at $1.4 billion-were sold on Binance. This marked the second grand wave in a week, following a similar spectacle on October 17. 🛒💨
Amr Taha penned:
“This marks the second major selling wave in a week.”
The STH realized cap, reflecting the value held by short-term holders, plummeted from $15.2B to $2.2B in eight days. A clear sign that many have fled their positions, locking in losses or shifting assets. Meanwhile, long-term wallets appear to be hoarding, a pattern as familiar as a spinster with her cats. 🐱
Key Demand Zone Stands Firm
Bitcoin still dances above a long-standing support zone between $108K and $110K, a bastion in previous market lulls. The 21-week EMA, nestled near the same range, adds its strength to the current support. 🛡️
On the daily chart, the price shows tentative signs of forming a higher low, marked by a rising line from recent candles. Rekt Capital termed this but a “very initial” development. A resolute move above $114K is required to shift the momentum. For now, BTC remains range-bound, like a wallflower at a ball. 💃
Traders Await CPI and Macro News
Short-term movements may hinge on forthcoming data. Ted declared:
“If CPI comes higher than expected, expect more pain ahead.”
A softer inflation reading might buoy risk markets. Elsewhere, technical traders note a bullish divergence and a golden cross on the 12-hour chart. Bitcoin clings to the lower end of its recent range after rejection near $114,500. 🧲
Meanwhile, some large BTC holders are transferring funds into spot ETFs, seeking better access to traditional finance while sidestepping taxable events. Analysts at VanEck dubbed this a “liquidity-driven mid-cycle reset” in a recent note. 🧾
And so, dear reader, we leave Bitcoin in its current state-a drama unfolding with all the intrigue of a Regency novel. Will it curtsy to $37K, or shall it rise again? Only time, and perhaps a bit of whimsy, will tell. 🕰️✨
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2025-10-23 22:06