Bitcoin: The Rollercoaster Ride You Didn’t Sign Up For! 🎢💰

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Hold onto your wallets, folks! Bitcoin’s historic bull cycle is still kicking, despite investors running around like chickens with their heads cut off over the current correction. Analysts are calling it a temporary “shakeout” — you know, like when you shake a soda can before opening it. 🍾💥

Right now, Bitcoin’s (BTC) price is down 22% from its all-time high of over $109,000, which was recorded on the day of President Trump’s inauguration. Coincidence? I think not! Maybe Bitcoin just wanted to steal the spotlight! 🎉

Even though investor sentiment has plummeted into “Extreme Fear” — which sounds like a horror movie title — historic chart patterns suggest this might just be a price shakeout. You know, like when your friend suddenly drops out of a group project right before the deadline! 😱

“Several key technical indicators have turned bearish,” said the Bitfinex analysts, who sound like they just got dumped. They added, “This bull cycle may be ending prematurely.” Oh, the drama! 🎭

But wait! Bitcoin’s 4-year cycle is still a big deal, shaping price movements like a sculptor with a block of marble. The analysts chimed in, “Corrections within bull cycles are normal, and past trends suggest this may be a shakeout rather than the start of a prolonged bear market.” So, don’t panic just yet! 🧘‍♂️

Now, let’s talk about the US spot Bitcoin exchange-traded funds (ETFs) that temporarily surpassed $125 billion in cumulative holdings. That’s a lot of dough! The analysts concluded, “It’s clear that the conventional cycle ceases to exist.” Sounds like a plot twist! 📈

In a glimmer of hope, Bitcoin staged a daily close above $84,000 on March 15, for the first time in over a week. It’s like the little engine that could! 🚂💨

However, due to Bitcoin’s correlation with traditional financial markets, BTC might only find a bottom along with equity markets, particularly the S&P 500. The Bitfinex analysts added, “While $72,000–$73,000 remains a key support range, the broader market narrative will dictate Bitcoin’s next major move.” Talk about pressure! 😬

“Trade wars have already been priced in, to some extent, but prolonged economic strain could weigh on sentiment,” they said. Sounds like a soap opera! 📺

Bitcoin halving and four-year cycle still crucial for price action: Nexo analyst

Despite fears over a disrupted Bitcoin bull market, the four-year cycle and the Bitcoin halving event remain crucial for Bitcoin’s price action, according to Iliya Kalchev, dispatch analyst at Nexo digital asset investment platform. He’s like the wise old sage of crypto! 🧙‍♂️

“Bitcoin’s four-year compound annual growth rate (CAGR) has declined to a record low of 8%,” Kalchev told CryptoMoon, adding, “Although strong institutional adoption has served as a significant tailwind for Bitcoin, its halving events are still expected to exert long-term influence.” So, it’s not over till it’s over! 🏁

The 2024 Bitcoin halving reduced the Bitcoin network’s block reward to 3.125 BTC per block. That’s like getting a smaller slice of pizza but still being happy about it! 🍕

Bitcoin price is up over 31% since the last halving occurred on April 20, 2024, which was dubbed the “most bullish” setup for Bitcoin price. It’s like the little cryptocurrency that could, thanks to growing institutional interest! 💪

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2025-03-16 13:19