Dirt-cheap Bitcoin? Support Levels, Secrets & Sarcasm! 🚀💸

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Ah, Bitcoin, that fickle mistress—last week soaring past $111K like a sugar-high kite, only to today pout below $106K, sitting at a modest $105,381. A tiny 1.2% flirtation upward, after a 5.8% tumble from its peak. Truly, the market’s version of a tepid bathtub splash, not quite a splash but enough to wet your shoes. 🚶‍♂️💦

It’s as if traders, with inspired patience, are waiting for the next act—perhaps a dramatic reentry or just a sigh. The Crypto Fear & Greed Index? Still depressingly neutral—no euphoria, no panic, just the monotony of watching paint dry, but on a blockchain. 🎭

Bitcoin’s Cranky Short-Term Investors Eye $96.7K—Support or Skinny Dip?

Recently, the oracle of CryptoQuant, known lovingly as abramchart, whispered of a sacred number—$96,700. A level of interest for short-term holders, or perhaps just their psychic comfort zone. If Bitcoin dares dip further, this might be the rebound point—a kind of fiscal trampoline destined to bounce us back or send us tumbling into the abyss. Or perhaps just a boring retracement. 🤷‍♂️

Meanwhile, Bitcoin asserting its dominance, like a brash landlord, is kicking out the roomies—Ethereum and friends—causing them to sulk. Corrections in Bitcoin? Often secrets whispered away, diverting capital like a tricky magician. Liquidity? Wait, my dear gambler, until Bitcoin makes up its mind or the market decides to take a nap. Abrahchart advises patience—possibly because it’s the only sensible thing to do when chaos is in vogue. 🧙‍♂️

Big Banks, Big Moves? Institutional Sneakiness Revealed

In a plot twist, Mignolet points out that Bitcoin reserves are like a teetering seesaw—down when institutions are piling up like sorcerers at a cauldron. Historically, falling reserves at Bitfinex have predicted an upward thrust—like a slingshot pulled tight, ready to catapult prices. 🎯

This time, around 24,000 BTC shifted to mysterious wallets, one tied to the infamous 21 Capital—Tether’s own darling—while the other silently swallowed 14,000 BTC in a move that screams “strategic accumulation,” or perhaps just a fancy game of hide-and-seek. Retailers, take note: the big fish are nibbling and hoarding, hinting that short-term dips might just be the prelude to a long-term party. 🥳

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2025-06-04 07:37