Bitcoin’s Wild Ride: Will It Crash or Soar? 🤑

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Bitcoin
$97 555
24h volatility: 1.1%
Market cap: $1.93 T
Vol. 24h: $66.33 B

Bitcoin, the digital gold, had a little tantrum on Tuesday. It was trying to break through $102K, but got stuck like a fly in a honey trap. 🍯 Poor Bitcoin, down 3% in 24 hours, trading at a measly $97,672! 😩 And to add insult to injury, over $357 million worth of crypto was liquidated. Poor little Bitcoin, just trying to find its way in this big, bad world. 😔

The fear and greed index went from “extreme greed” to “neutral.” It’s like someone turned off the lights in a disco and everyone went “oh, never mind.” 😒 And the number of daily active addresses plummeted, like a bunch of kids suddenly deciding they don’t want to play anymore. 😕

BlackRock’s IBIT: Bitcoin’s New BFF?

BlackRock, the big, scary money monster, has decided to buy more Bitcoin. It’s like a giant, hairy spider building a cozy nest for its precious little egg. 🕷️ It’s all about hedging against inflation and macroeconomic uncertainty. Who knew? Maybe BlackRock’s just tired of the same old boring investments. 🥱

BlackRock bought 2,520 Bitcoin

Only 450 were mined

— Quinten | 048.eth (@QuintenFrancois) February 5, 2025

BlackRock’s IBIT, like a hungry monster, devoured $249 million, bringing its net assets to a whopping $57 billion. 🤑 The US spot BTC ETFs are also gobbling up Bitcoin, with a total of $340 million flowing in. These guys are definitely not shy about their Bitcoin obsession. 😜

What’s in Store for Bitcoin? Will It Crash or Soar?

Bitcoin’s been stuck in a horizontal channel for three months, like a hamster running on its wheel. 🐹 It’s waiting for the 2025 macro bull run, but for now, it’s just doing a little dance at the lower end of the channel.

Bitcoin might bounce back, or it might just keep sinking. It’s a coin toss, really. The short-term bearish sentiment will disappear if Bitcoin closes above the falling logarithmic trend and regains the 100 Moving Average (MA) as a support level. But if it doesn’t…well, let’s just say it might be time for a new dance partner. 😜

The World Embraces Bitcoin: Will It Be a Love Story or a Nightmare?

Bitcoin’s become a global phenomenon, with countries like the US and El Salvador getting in on the action. President Trump even signed an Executive Order, which is like giving Bitcoin a big, official hug. 🙌 And the Trump administration is all about making digital assets mainstream, which is like throwing a giant party for Bitcoin. 🥳

With 3 million Bitcoins up for grabs, the demand from whale investors is about to make Bitcoin’s price go wild, like a bunch of kids in a candy store. 🍭 Will it be a dream come true or a nightmare? Only time will tell. 🤪

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2025-02-05 13:23