Bitcoin Blow-Up Alert! Is Your Crypto Portfolio Ready for the Wild Ride? 🚀💸

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So, news flash! 📰 On-chain chitter-chatter from our friends at CryptoQuant—because who doesn’t love a sprinkle of crypto gossip?—suggests that Bitcoin might be preparing to put on its party hat and rejoin the bullish bash! 🎉 Apparently, there’s a little market signal doing the cha-cha, and it’s about time we paid attention.

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In a post from April 13, our crypto-savvy correspondent, Joao Wedson, noted that the perpetual-spot gap on Binance—the difference between the glamorous futures price and the daggy spot price—is starting to narrow. It’s like watching your ex get their act together after years of dressing like a hot mess.👗💔

Now, with the gap currently playing hard to get (it’s negative, for those keeping score), our futures market friends seem to be sipping tea and exercising some caution after Bitcoin’s last cringe-worthy leap to nearly $90,000. But the narrowing gap might suggest that the selling pressure is as deflated as a sad balloon. 🎈 Historically, when this gap has turned positive, Bitcoin has thrown a modest little tantrum and skyrocketed—think 2020 and early 2024. It’s the comeback story we didn’t even know we needed!

Despite Bitcoin’s rollercoaster plunge of over 22% from its former dazzling high of $108,786 in January, the on-chain accumulation signals are looking more promising than your aunt’s pie at Thanksgiving. 🍰 As of April 11, sources from X (formerly Twitter, because we all love a good rebranding) reported around 40,000 BTC was snatched up near the $79,000 mark, with an additional 51,000 BTC lurking around the $82,080 area—like peak gossip at a book club. If prices decide to flirt with those levels again, there might just be a sturdy support for our beloved Bitcoin.

Looking at Cost Basis Distribution, #Bitcoin has built notable support at $79K, with ~40K $BTC accumulated there. It has also worked through the $82.08K cluster (~51K $BTC). If this level holds, the next to test is $83.5K, with 48.5K $BTC positioned:

— glassnode (@glassnode) April 11, 2025

Currently, Bitcoin is shimmying around $84,746, having made a heroic recovery from a low that felt more like a fall at the office Christmas party ($74,773, for those who want to keep it real). 📉 The cryptocurrency has bounced back by a snazzy 7% this week! It even closed a daily candle above a long-term downtrend—excuse me while I clutch my pearls! Nonetheless, our analytical buddy Rekt Capital has thrown in a cautionary tale, warning that we need a successful retest to confirm any fabulous trend change.

#BTC

Bitcoin has Daily Closed above the Downtrend

Thus, breakout confirmation is underway

However BTC has previously Daily Closed above the Downtrend but failed its retest (a few of the red circles)

Retest needs to be successful and it is in progress$BTC #Crypto #Bitcoin

— Rekt Capital (@rektcapital) April 13, 2025

Meanwhile, Bitcoin’s sizzling dominance—measuring its fab share of the entire cryptocurrency party—is sitting pretty at 63%, according to the ever-reliable TradingView. 🤩 This indicates that a hefty dose of market capital is still cozied up with Bitcoin, suggesting that investors are placing their bets on its stability amidst the tumultuous trading scene. If those buyers keep the momentum rolling and the futures gap flips to positive, we might be in for another electrifying Bitcoin rally. Sit tight, dear investors!

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2025-04-14 09:16