Behold the Mighty BTC: Tumbled from Grace Yet Boasting a 1 ZH/s Marvel! 🤯

Mesdames et Messieurs, gather close and witness the capricious folly of our dear Bitcoin. One moment it reigns supreme at a beguiling sum of $76,479—aye, proudly heralding a daily volatility of 8.0%, a robust market cap of $1.52 T, and 24-hour trading volumes fit to shame your local merchant at $63.94 B. But lo and behold, a swift plunge sends it slumping to the woeful realm of $75,053, all for failing to prance above the fabled $80,000 threshold. Cue the dramatic sighs and the fainting couches! 😱

Meanwhile, in hush-hush corners of cyberspace, our beloved Bitcoin network pops champagne over a truly majestic feat: crossing the illustrious 1 Zetahash per second mark in its 16th year of existence. One might say it’s the grandest ball in digital town! 🍾

Decentralization Fit for a Stage

In a fine display of bravado, data from mempool.space and BTC Frame tell us the hashrate soared past 1 ZH/s on April 5, peaking at an impressive 1.025 ZH/s. Coinwarz even spun a yarn of it reaching 1.1 ZH/s at block height 890,915 on April 4—truly a performance worth a standing ovation. The network now cha-chas at over 1,000 Exahashes per second, a 1,000x leap since January 2016, when it first tiptoed at 1 EH/s. Comparatively, poor Litecoin trudges at 2.49 Petahashes, dwarfed by Bitcoin’s mountainous brawn. One wonders if LTC needs more spinach in its diet. 🥬

Indeed, dear friends, such a milestone bolsters Bitcoin’s defenses against dastardly 51% attacks and further cements its merry band of miners in a state of growing decentralization. Bravo, darlings!

When the Price Decides to Swan-Dive

Elsewhere, the market whips out the pitchforks! A 257.99% vault in trading volume points to feverish selling as the grand coin teeters. The 20-day EMA at $83,206 now stands like a stern guard, arms folded, refusing to grant passage. Meanwhile, the RSI totters at 34.11—on the very brink of oversold gloom, whispering, “Abandon hope or gather your coins.” Until this 20-day EMA is bested, upward cheer is left on hold, presumably giggling backstage. 🤭

Source: TradingView

Should you wish to serenade the markets, kindly note: the RSI’s downward tilt offers scant hope of a dramatic rescue. ‘Tis an unkind mistress, this coin.

Enter the Accumulators, Pursuing a Breakout

Analyst Ali Martinez reveals that in recent months, 76 fresh entities holding more than 1,000 BTC apiece have waltzed onto the scene—a 4.6% uptick. This hush-hush wave suggests that, yes indeed, some big-pocketed dreamers are ignoring volatility and eyeing new conquests. 🤑

In the past two months, 76 new entities holding over 1,000 #Bitcoin $BTC have joined the network. A 4.6% surge that signals rising institutional demand.
— Ali (@ali_charts) April 7, 2025

From a technical vantage, Bitcoin pirouettes in a symmetrical triangle, forging lower highs and higher lows. As the apex nears, dear Martinez warns of a possible grand finale—an explosive breakout, or perhaps a comedic tumble, set to move the price by about 14%. Truly, this coin is as predictable as a cat on a tightrope, ready to delight or misbehave at a moment’s notice. 😼

#Bitcoin $BTC is ready for a big price move!
— Ali (@ali_charts) April 6, 2025

Be it $87,000 or $82,000—both watchtowers seem equally confounded by the coin’s theatrics. One break of these gates and we shall see the market dancing with joy or weeping in the alleys. Gentlefolk, brace yourselves for the comedy of errors and triumphs that only Bitcoin can script! 🎭

2025-04-07 14:24

Decentralization Fit for a Stage

When the Price Decides to Swan-Dive

Enter the Accumulators, Pursuing a Breakout

Read More