In this comedy of errors that is the crypto market, our dear Bitcoin (BTC) totters on the brink of a most curious fate. 🎭
Our learned analyst, Rekt Capital, doth raise an eyebrow at the impending “gap” in the CME Group’s Bitcoin futures. 🧐
Bitcoin, in its usual dramatic flair, hath descended to new multimonth lows, only to rebound with a flourish, as if to say, “Fear not, for I am yet strong!” 🌟
Alas, the market’s nerves are frayed, for where will Bitcoin next find its footing? The bid liquidity at $80,000 is but a shadow compared to the towering wall of asks at $90,000. 🏰
But fear not, for Rekt Capital seethes two targets in the offing. A CME gap doth beckon, both high and low, and history doth suggest that Bitcoin shall “fill” them both. 🎯
“Lo! Bitcoin draweth nigh to filling the CME Gap betwixt $78000 and ~$80700 from yesteryear’s November,” the analysis doth proclaim.
“Yet, in this dance of the market, a new CME Gap hath emerged, from ~$92700 to ~$94000!”
Rekt Capital doth note that the upside gap doth mirror the lows of a trading range that hath persisted until this very week. 🔄
“This doth offer some hope that the price may revisit $93500 in a future rally,” he concludeth, with a nod to another target from the day prior.
“For Bitcoin hath filled almost every CME Gap since mid-March 2024!”
Some soothsayers predict a reversal of fortune, as the Crypto Fear & Greed Index hath sunk to depths unseen since the fall of FTX. 📉
Axel Adler Jr., a sage of onchain analytics, hath revealed the panic-selling’s aftermath through the STH MVRV metric. 🧮
“The STH MVRV (155-day) hath dipped below one, signaling undervaluation and potential reversal points,” he declareth to his followers.
“And lo, the current values approach these lower levels once more.”
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2025-02-27 13:23