So, Bitcoin decided to throw a tantrum for the third day in a row, plummeting to depths we haven’t seen since November 11, 2024. I mean, who knew digital coins could have such dramatic mood swings? 😱
At its most dramatic moment, BTC (yes, that’s Bitcoin, not a new boy band) flirted with $82,256 before some brave souls swooped in to buy. But hold your horses, folks! Data suggests we might be in for a bit more of a rollercoaster ride before things calm down. 🎢
Independent market analyst Scott Melker, who clearly has a flair for the dramatic, shared this chart and said,
“Bullish divergence with oversold RSI STILL very much in play. At the moment, RSI still is making a higher low. We need to see a clear “elbow up” on the next candle to confirm. Noting here yet.”
As Bitcoin continues its descent into the $70,000 abyss, the Crypto Fear & Greed Index has hit a one-year low of 21. Welcome to ‘extreme fear’—the perfect place for a horror movie marathon! 🎃
According to Velo, Bitcoin is having its worst three-day performance since 2022. And let’s not forget the billion-dollar outflows from spot BTC ETFs—because who doesn’t love a good financial drama? 💔
Meanwhile, the US stock market is also throwing a fit, with the S&P 500 taking a nosedive after President Trump decided to threaten the EU with 25% tariffs. Because nothing says “let’s make friends” like a good ol’ tariff war! 🤦♀️
Oh, and just to spice things up, the Trump administration has sent out memos on how to execute mass layoffs. Because why not add a little chaos to the mix? 🎉
While Bitcoin’s record liquidations over the past three days might have revealed a “generational buying opportunity,” analysts are still clutching their pearls, unsure if the worst is truly behind us. 🙈
Current estimates are all over the place, but whispers of a Bitcoin price bottoming out between $80,000 and $71,000 are growing louder. So, grab your popcorn, folks! 🍿
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2025-02-27 03:41