Bitcoin’s Back! 🤑

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Well, I’ll be hornswoggled! Bitcoin, that rascal, has clambered back over the $90,000 mark. Seems like just yesterday it was wallowing down around $74,000, looking as forlorn as a hound dog in a rainstorm. ☔

Now, it’s strutting around like a Mississippi gambler with a winning hand, having puffed itself up by a whole 13.1% in a fortnight. Today alone, it’s up 3.3%, sitting pretty at $90,279. A body’d think it was trying to impress someone. 🤔

And wouldn’t you know it, all this hullabaloo has got the fancy-pants analysts at CryptoQuant all aflutter. They’re jabbering about “funding rates” and the peculiar habits of folks who hold onto their Bitcoins like a miser to his gold, versus those skittish short-term fellas. 🧐

Bitcoin’s Funding Rate: A Sign of More Shenanigans to Come?

This ShayanBTC fella, a CryptoQuant wordsmith, is making a fuss over how these Bitcoin futures funding rates have bounced back like a rubber ball. Says it’s all reminiscent of a spell back in ’24 when things were as still as a swamp before a gator attack.🐊

According to his calculations, the old price and funding rates took a tumble during the sell-off, which, according to him, pointed to a reduction in speculative positioning.

Bitcoin Funding Rates

Now that those rates are climbing again, it seems traders are feeling as bold as brass, opening up long positions like they’re buying up the whole darn town. This might just mean they reckon Bitcoin’s got more climbing to do. 🤞

If this keeps up, Shayan reckons Bitcoin might just poke its nose at that $93,000 resistance level. Keep your eyes peeled, folks, it’s bound to be a showdown! 🤠

Funding rates, you see, are like weather vanes for the derivatives market. Positive rates mean more folks are itching to get their hands on some long exposure.

The Long and Short of It: Holders’ Tale

Now, IT Tech, another CryptoQuant sage, has spotted a real divergence in behavior. The long-term holders, those who’ve been clutching their Bitcoins for over 155 days (longer than a Mississippi summer!), are back to hoarding like squirrels before winter. 🐿️

This here shift suggests these seasoned players are getting ready for a comeback. They’re making strategic moves, not just chasing a quick buck.

Long-Term Holder Accumulation

On the other hand, the short-term holders are running for the hills, with their net positions showing a hasty exit. These folks are as jumpy as a frog in a skillet, reacting to every little price wiggle. Their capitulation has often meant we’re hitting the bottom of the barrel.

So, what does it all mean? Well, the combination of long-term hoarding and short-term panicking might just mean we’re in the early stages of a re-accumulation phase. And that, my friends, has often paved the way for Bitcoin to climb higher than a cat in a tree! 😼

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2025-04-23 11:49