Right. So, apparently, Bitcoin hasn’t finished its little performance yet. According to some bloke on CryptoQuant (because, of course, we all trust random internet people with our life savings), there’s still one final leg up before the bull market takes a bow. 🐂🎭
Bitcoin, the drama queen of the financial world, has already dropped 23% since its all-time high in January. Blame it on Trump’s tariffs, global uncertainty, or maybe just Mercury being in retrograde. Who knows? 🤷♀️ But Crypto Dan (yes, that’s his actual name) thinks there’s still some juice left in this lemon. 🍋
He’s pointing to some fancy ratio of BTC volume traded over six to 12 months, which apparently is the crypto equivalent of reading tea leaves. According to him:
“Typically, this ratio first declines, signalling the end of the early phase of the bull cycle. After some time, it declines again, reaching a lower level than the first drop, marking the end of the bull cycle.”
Translation: Bitcoin’s about to have a second wind, attracting all the latecomers and retail investors who’ll inevitably FOMO in and send it to new highs. Then, of course, it’ll crash spectacularly because that’s what Bitcoin does. 🚀💥
Apparently, the ratio hit a “critical midpoint” in March 2024 (because nothing says “critical” like a random line on a chart), and now it’s entering its final dip. So, buckle up, folks. We’re either about to moon or crash and burn. 🌕🔥
Meanwhile, Bitcoin holders are acting like this pullback is just a minor inconvenience, like spilling tea on your favourite jumper. They’re holding onto their coins despite being in the red, probably because they’ve already emotionally detached from their money. 💔💸
Exchange net flow data also suggests reduced selling pressure, which is crypto-speak for “people aren’t panicking yet.” At the time of writing, Bitcoin is trading at $82,086, down 1.5% in the last 24 hours. So, basically, it’s just another Tuesday in the crypto world. 🕰️📉
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2025-04-05 00:41