Oh, look at the little digital goldmine that could! Bitcoin‘s collective “we bought it at this price” number hit a record-breaking $40,980. Because, you know, it’s not like people have better things to spend their money on. 🙄
In what can only be described as a “let’s see if we can make this number even bigger” challenge, Bitcoin’s cost basis soared by a whopping 86%. That’s right, $811.7 billion in total. Because who doesn’t love a good round number to inflate their ego? 🚀
Now, some folks with too much time on their hands think this is a sign of Bitcoin’s true worth. You know, for when the next market crash comes along and we all need a good laugh. 😂
Adam Back, the co-founder of Blockstream, is probably sitting in a leather chair right now, stroking his beard and saying, “Bitcoin’s floor price is over $40,000, my friends. Let’s all panic-buy!” 🧔
Bitcoin’s “.floor price” is like the cool kid at school
Word on the street is, Bitcoin’s “floor price” is trying to sit at the cool kids’ table, aiming for a cool $44,000. And the 200-week moving average is like the popular girl who just wants to fit in. 🎓
On February 11, this so-called “key indicator” was like, “Hey, look at me, I’m at $43,983!” while Bitcoin was all, “I’m above $95,740, baby!” 🎉
Back then told everyone, “The Bitcoin 200 week moving average is like the cool floor price that never goes down. Or so we hope.” 🤞
Bitcoin and the CPI: It’s Complicated
Bitcoin’s price is like a teenage girl’s mood swings, totally dependent on what the US Consumer Price Index has to say. And everyone’s waiting for the big reveal on February 12. 🎭
Iliya Kalchev, some analyst guy, says this could totally make or break crypto investors’ feelings for the next few weeks. Drama, drama, drama! 🎬
He was like, “If the CPI is higher than expected, everyone’s gonna panic and start talking about rate hikes again. And then there’s Japan, Germany, and the UK all trying to throw their own economic parties. It’s gonna be wild!” 🌪️
Meanwhile, Bitcoin was like, “I’m still cool above $95,000, even after that whole Three Arrows Capital thing. Trade war tensions? Pfft, I’m not even worried.” 🙅♂️
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2025-02-12 16:53