Oh, great, just when you thought Bitcoin was going to finally make up its mind and stick to a price, it goes and does the opposite. Surprise, surprise! 🙄 After teasing everyone by climbing back to $87,000, it’s back on its downward spiral. I mean, who needs a rollercoaster when you’ve got Bitcoin?
Right now, it’s down a whole24.7% from its peak. You know, that magical moment above $109,000 in January? Yeah, that feels like a lifetime ago. It’s like Bitcoin’s trying to break some kind of record for the most dramatic asset ever. 🏆
And while this digital drama queen continues its turbulent journey, analysts are busy playing detective, trying to guess its next move. Good luck with that!
Bull Score Index: Straight Outta a Comedy Show
Enter Julio Moreno, CryptoQuant’s very own market sentiment whisperer. He’s got this Bull Score Index that’s basically the mood ring of Bitcoin. And guess what? It’s been screaming “bear” since Bitcoin was at $96,000. Now it’s at a10. Ten! That’s not even trying. It’s like getting a participation trophy in a pessimism contest. 🐻
This index, by the way, is supposed to tell us if it’s time to buy or sell. Scores near100 mean everyone’s throwing a party, and scores near0 mean the party’s over, and everyone’s crying in the corner. With it at10, I’d say we’re all just standing around awkwardly, not sure if we should laugh or cry.
And as if that wasn’t enough, Maartunn, another CryptoQuant genius, says over1,057 Bitcoin that’s been napping for7–10 years just decided to wake up. It’s like they’ve been in a coma and missed the entire series finale. Now they’re stirring, and everyone’s freaking out thinking they’re about to sell. 🚀🛌➡️💸
1,057 Bitcoin that hadn’t moved in7–10 years just woke up.
Long-term holders may be preparing to sell.
— CryptoQuant.com (@cryptoquant_com) April3,2025
Not Everyone’s Ready to Jump Ship
But wait, there’s a plot twist! Javon Marks, another crypto analyst (because apparently, we need an army of them), is all sunshine and rainbows. He’s pointing at the Relative Strength Index (RSI) like it’s some kind of crystal ball. According to him, Bitcoin’s daily RSI is holding strong, like that one time it did before everything went up. So, fingers crossed? 🤞
And just when you’re about to buy into the optimism, Titan of Crypto (yes, that’s apparently a real person) comes in with a reality check. He’s all, “Sure, RSI looks nice, but if Bitcoin doesn’t stay in its little support channel, we’re all going down with the ship.” So, there’s that.
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2025-04-04 09:43