Bitcoin’s Droll Dance: Demand Sets the Stage! 🎭💰

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Ah! Mes chers amis, behold these curious movements of our dear Bitcoin! Before each grand ascent, there lies a tedious parade of sideways semblance, like a drunkard staggering to the tune. This charming pattern—reminiscent of the staircase of a clumsy noble—can be seen clearly in the Cost Basis Distribution (CBD) heatmap, revealing clusters of supply amassed at similar prices over the last three months. Truly, a spectacle of patience and folly!CBD Heatmap Illustration

Accumulation, Ah! The Plot Thickens

Ah, but the plot thickens, mes amis! The CBD heatmap uncovered the secret, the clandestine buildup prior to each noble leap higher—until our valiant BTC soared to the lofty heights of $104,000! Observe how the demand—a most persistent suitor—grew steadily, whispering tales of market confidence, a veritable ballet of buyers and sellers prancing around in harmony. Oh, what a charming display of market confidence and perseverance! 💃📈

The Grand Support: Between $93k and $95k

Now, cast your discerning eye over the last thirty days! Lo and behold, a most significant zone of accumulation emerges—between the noble sums of $93,000 and $95,000! This range, dear connoisseurs, aligns precisely with the Short-Term Holder cost basis—those naive souls who ventured into the market within a mere 155 days. Ah! This zone shall serve as a fortress of support, should any trivial pullbacks threaten our bullish serenity. A demand haven! Investors, like cats, seek comfort in familiar territory—value—and thus, the market’s march to glory continues unabated! 😸📉📈

Market Support Illustration

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2025-05-17 18:27