- Ah, Bitcoin! It finds itself entangled in the web of U.S. economic woes, like a fly in a spider’s lair.
- Yet, the wise long-term investors, like seasoned gamblers, remain ever so confident in their winnings!
Lo and behold! Bitcoin [BTC] dances just 3% beneath its glorious all-time high, yet it seems to be panting like a dog after a long chase. The Asian market’s jubilant rally on the 9th of June gave the crypto world a little jig, but alas! A dip in Open Interest whispered caution in our ears.
News of rising core CPI inflation and the Fed’s unwavering stance on interest rates has cast a shadow over our bullish dreams. But fear not! The long-term investors, those brave souls, appear to be holding their ground, as the on-chain metrics suggest.
In a delightful post on CryptoQuant Insights, our dear friend Crypto Dan noted that the Net Realized Profit and Loss were as tame as a kitten compared to the wild beasts of November-December 2024.
Profit-taking is indeed present, but it seems to be on a diet, reflecting the whales’ grand expectations of Bitcoin soaring to new heights!
Our analyst, with a twinkle in his eye, concluded that new all-time highs are not just a dream, but a likely reality this cycle!
Is Accumulation Back for Bitcoin? Oh, What a Question!
Just a couple of years ago, the notion of Bitcoin accumulating around the $110,000 mark would have been met with laughter, especially from those who scoff at crypto enthusiasts.
Yet, here we are! The price action and the growing institutional adoption are giving long-term bulls a reason to cheer, while the purists might just roll their eyes.
The 365-day Mean Coin Age has been climbing like a cat up a tree throughout 2025. The early June dip to $105k left a mark, but the surge in age consumed suggests a flurry of BTC movement on-chain.
This movement, likely for selling, has been a sight to behold! However, in the past ten days, the Mean Coin Age has begun to rise again, as the price marches valiantly toward its ATH.
This signals a grand accumulation across the network! The 7 DMA of the age consumed reveals that the last week of May saw token movements that could rival the excitement of November-December 2024.
After the massive spike on the 2nd of June, the age consumed metric has been as quiet as a mouse. Therefore, it is only reasonable for Bitcoin to continue its ascent. Euphoria and market-wide profit-taking, which usually herald the end of a cycle, are still nowhere to be found!
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2025-06-12 11:07