Bitcoin Bulls in Tears: $4.5 Billion Vanishes in a Weekend! 😱

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Once upon a time, in the wild and wacky world of cryptocurrency, Bitcoin’s open interest took a nosedive so spectacular it could make a circus acrobat jealous. Over one weekend, a whopping $4.5 billion vanished into thin air, leaving BTC bulls clutching their horns in despair. But wait! Just when all seemed lost, a glimmer of hope appeared on the horizon, courtesy of some crypto analysts who, like magicians pulling rabbits out of hats, hinted at a bullish reversal. 🎩✨

According to the ever-reliable Coinglass, Bitcoin’s open interest plummeted from $65 billion to a measly $61.5 billion. This dramatic drop came hot on the heels of a BTC price crash that wiped out over $2 billion in just 24 hours. The bulls, poor dears, took the brunt of the hit, with $1.88 billion in long positions liquidated faster than you can say “crypto catastrophe.” 🐂💥

For those who need a bit of context, Bitcoin’s price tumbled from a lofty $100,000 to a pitiful $92,000 over the weekend. This financial fiasco was triggered by none other than US President Donald Trump, who decided to slap tariffs on imports from Mexico, Canada, and China. In retaliation, these countries threatened to impose tariffs on US goods, sending the market into a tailspin. 🌍💣

With economic uncertainty looming like a dark cloud, Bitcoin’s open interest is unlikely to recover anytime soon. This spells doom for the bulls, as the bears are now firmly in control, growling menacingly and sharpening their claws. 🐻🔪

But fear not, dear reader, for there is a silver lining to this stormy cloud. Crypto analyst Ali Martinez revealed that 65.75% of Binance traders with open Bitcoin futures positions are betting on the upside. These traders, who have a knack for being right more often than a broken clock, could be the saviors Bitcoin needs. 🦸‍♂️📈

In another X post, the Titan of Crypto declared that the broader trend for Bitcoin is still upward. He revealed that BTC is establishing a new range between $104,400 and $93,600. While the short-term direction remains as uncertain as a cat’s mood, the Titan is confident that in the long term, Bitcoin will rise like a phoenix from the ashes. 🐦🔥

Meanwhile, finance guru Robert Kiyosaki urged everyone to keep calm and carry on, suggesting that this is the perfect time to buy Bitcoin on sale before it skyrockets to new heights. 🛒🚀

At the time of writing, Bitcoin is trading at around $94,000, down over 6% in the last 24 hours, according to CoinMarketCap. So, will Bitcoin bounce back, or is this the beginning of the end? Only time will tell. ⏳🤔

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2025-02-03 21:43