Crypto Drama: Are We Really Riding the Bull or Just Chasing Our Tails? 🐂💰

So, ” It’s like a high school rumor mill, but with more zeros and less sense. 📉🤷‍♀️

“Beware of misinformation! Despite the data, misleading narratives persist,” says CryptoQuant contributor “onchained” in a report that sounds like it was written during a caffeine-fueled all-nighter. ☕️💻

“These claims often lack onchain validation and are driven by sensationalist market sentiment rather than objective analysis,” the analyst continued, clearly trying to be the voice of reason in a room full of party hats and confetti. 🎉

“Trust data, not noise; verify sources and cross-check onchain metrics.”

Onchained points out the recent movements of Bitcoin (BTC) long-term holders (LTH) — you know, those folks who’ve been holding onto their coins longer than most people hold onto their New Year’s resolutions. 🥳

While some narratives are claiming Bitcoin long-term holders are “capitulating,” the data says, “Not today, Satan!” They’re staying put. “The data leaves no room for speculation,” Onchained declared, probably while rolling their eyes. 🙄

And let’s talk about the Inactive Supply Shift Index (ISSI) — it’s like the Bitcoin version of a fitness tracker, showing no meaningful LTH selling pressure. Basically, demand is outpacing supply, and that’s not just a line from a motivational poster. 📈

Narratives are always being challenged

Crypto analytics platform Glassnode recently chimed in, saying, “Long-Term Holder activity remains largely subdued, with a notable decline in their sell-side pressure.” In other words, the drama continues! 🎭

One hot topic is the 4-year cycle theory, which suggests Bitcoin’s price follows a predictable pattern like clockwork. But let’s be real — if Bitcoin were a clock, it’d be one of those fancy ones you can’t figure out how to set. ⏰

MN Trading Capital founder Michael van de Poppe recently declared, “Let’s just erase the entire 4-year cycle theory! We’re in a longer cycle for Altcoins.” Wow, bold move! Someone’s feeling adventurous! 🚀

Bitwise Invest’s chief investment officer, Matt Hougan, echoed this sentiment, saying, “The traditional four-year cycle is over in crypto.” Thanks, DC! Now we have to rethink everything — just like when you find out your favorite childhood snack is actually terrible for you. 🍭🚫

And if that’s not enough, some analysts are even debating whether the entire Bitcoin bull market is over. Spoiler alert: it’s like asking if the party is over before the cake is even served. 🎂

CryptoQuant founder and CEO Ki Young Ju dropped a truth bomb on March 17, saying, “Bitcoin bull cycle is over, expecting 6-12 months of bearish or sideways price action.” Sounds fun, right? Just what we wanted — more sideways action. 🤷‍♂️

Ju added that all Bitcoin onchain metrics indicate a bear market. “With fresh liquidity drying up, new whales are selling Bitcoin at lower prices,” he said, probably while clutching a stress ball. 🐋💸

2025-03-23 08:15

Narratives are always being challenged

Read More