In the dreary annals of November, Bitcoin (BTC) suffered the indignity of slipping below its vaunted $100,000 threshold, plunging to a humiliating $98,900 before clawing its way back to respectability. One might imagine the wails of despair from its besotted investors, though a recent on-chain analysis-a beacon of hope in this sea of folly-suggests a dramatic reversal may be nigh. Or so the dreamers would have us believe. 🌪️✨
Binance: A Carnival of Panic and Liquidation 🎪💥
In a QuickTake post on CryptoQuant, the indefatigable Amr Taha reveals a farcical shift in Bitcoin’s retail activity on the Binance network. Taha’s report, a masterpiece of dry wit, focuses on the ‘[Bitcoin] LTH/STH Buy/Sell Binance’ metric, which distinguishes between the sober Long-Term Holders (LTHs) and the flighty Short-Term Holders (STHs). A tale as old as time itself. ⏳📊
With the precision of a Victorian novelist, Taha notes that on the 3rd and 5th of November, Binance witnessed a veritable stampede of STHs-those “clown wallets,” as they are affectionately known-selling their Bitcoin in a panic. Some 251 BTC flooded Binance on the 3rd, while a staggering 517 BTC arrived on the 5th. One can almost hear the collective sigh of the LTHs, ever ready to scoop up the crumbs of their less disciplined brethren. 🤡💼
These STHs, prone to fits of hysteria, unwittingly provide liquidity to the stoic long-term holders, who gleefully accumulate amid the retail market’s fear-driven chaos. A comedy of errors, if ever there was one. 😱🤑
Meanwhile, Taha turns his attention to the BTC: Binance Liquidation Delta, a metric as dry as a Waugh novel, which reveals the carnage of long and short liquidations. The recent bloodletting, it seems, has been among the overleveraged long positions, entered with the hubris of a Bright Young Thing and closed with the brutality of a Dickensian debtor’s prison. These positions, liquidated in the $107,000-$100,500 range, have triggered a long squeeze-a term as ominous as it is inevitable. 📉⚰️
While a long squeeze typically sends prices tumbling like a fallen aristocrat, it is but a fleeting inconvenience for Bitcoin’s long-term holders. Historically, these events have been viewed as opportunities for accumulation, a soft cushion against the cryptocurrency’s precipitous falls. If history is any guide, BTC may soon find its bottom, after which a resurgence-or at least a temporary reprieve-may follow. Or so the optimists chirp. 🛋️🚀
BTC Price Overview: A Study in Volatility 📈🎢
At the time of this genteel discourse, Bitcoin stands at a modest $103,500, having enjoyed a 24-hour growth of over 2%, according to the ever-reliable CoinMarketCap. A small victory, perhaps, in a world of uncertainty. 🌍💹
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2025-11-09 00:28