Ah, the grand spectacle of the market! The masses, with their eyes gleaming like children in a candy store, expect Bitcoin to soar to dizzying heights. Yet, lo and behold, this very expectation may be the anchor that keeps it from flying! But fear not, for the wise analysts whisper of Ether, that cunning little rascal, ready to spring a surprise on the unsuspecting investors. 🎉
Brian Quinlivan, the oracle of Santiment, shared his musings with CryptoMoon on this fine Wednesday. He noted a buzz on social media, a fervent hope for Bitcoin’s next ‘all-time high’. But, as the fates would have it, markets often dance to the tune of retail’s folly. So, dear friends, brace yourselves; we may not be ready for another bullish romp just yet! 🐂
Bitcoin’s “frustrating” close calls may lead to aggressive upswing
Quinlivan, with a twinkle in his eye, suggested that the very confidence in Bitcoin’s rise might be its downfall. Having flirted with all-time highs more times than a lovesick poet, the sentiment has now dipped, leaving Bitcoin teetering on the edge of its current peak.
As of this moment, Bitcoin is trading at a respectable $109,679, a mere 2.1% shy of its glorious $111,970 peak reached on May 22, according to the ever-reliable CoinMarketCap. 📈
“It wouldn’t be shocking if we break through soon,” Quinlivan mused, “after a few more of those oh-so-frustrating ‘close calls’ that turn small traders into grumpy cats, thus neutralizing the optimism in the air.” 😼
The Crypto Fear & Greed Index, that fickle friend measuring market sentiment, currently reads a “Greed” score of 72 out of 100. Greed, my dear readers, is a double-edged sword! ⚔️
Dr. Sean Dawson, the sage of Derive, shared his thoughts with CryptoMoon, predicting that Bitcoin “will likely underperform” in the third quarter. A bold claim, indeed!
Q3 has historically been the worst for Bitcoin
Ah, the third quarter! A time when Bitcoin has historically stumbled, averaging a meager 6.03% return since 2013. Meanwhile, the following quarter dances away with an average return of 85.42%, according to the wise sages at CoinGlass. 📉
Dawson pointed to the looming specter of macroeconomic uncertainty as a significant concern for traders. “Despite the political clamor for rate cuts, the Fed seems poised to keep interest rates steady, which could dampen Bitcoin’s allure for those seeking outsized returns,” he lamented.
99.9% of market participants, it seems, expect the Federal Reserve to keep interest rates at a steady 4.25% to 4.50% on June 18, as per the crystal ball known as CME’s FedWatch tool. 🔮
While Bitcoin’s future hangs in the balance, Quinlivan pointed out the “high level of optimism toward Ethereum.” Oh, how the tides have turned! 🌊
“More and more eyes have turned to Ethereum,” he declared, noting that the asset has been “playing catch-up since markets began their recovery in mid-April.” Ether (ETH), once languishing at a low of $1,472 on April 9, has now risen to a commendable $2,793 by the time of this publication, according to CoinMarketCap data.
“Bitcoin’s leap over the past couple of months has, of course, allowed profit redistributions to let other market caps shine. It was only clear when ETH was at its most bearish a couple of months ago,” he added with a knowing smile. 😏
Meanwhile, Dawson warned that overall crypto trading volume may dwindle in the near term, as the sun-soaked summer beckons many investors to take a well-deserved vacation. ☀️
“This seasonal lull raises the chances of sideways movement or even sharp pullbacks, as traders take profits from earlier gains,” Dawson concluded, leaving us all to ponder the whims of the market.
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2025-06-11 09:54