The BTC Drama: A Wild Ride at $112K—Can It Hold or Is the Crash Coming? 😱

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Ah, Bitcoin. That glorious, temperamental creature. It soared past its previous all-time high of $109K earlier this week, landing comfortably at $112K, probably with a smug little smile. However, despite this dazzling feat, the price seems to be exhibiting what experts call “slightly bullish momentum”—basically, a modest flicker of hope that might fizzle out at any moment. Let’s see what happens next. Spoiler alert: It’s probably going to be dramatic. 🙄

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Technical Analysis

The Daily Chart

Behold! Bitcoin has broken free from its former shackles, smashing through the $109K ceiling like a rebellious teenager. But wait, there’s more. It’s now frolicking around the $112K mark, basking in the glory of its newfound heights. This breakout was supposed to signal strong buyer interest and an unstoppable surge. Instead, we’re seeing Bitcoin pull back ever so slightly. How shocking. 😆

The price action suggests that Bitcoin is taking a breather (because even digital currencies need a nap, apparently). It’s hovering near the once-coveted $109K support level, hoping it holds strong. If the demand for this cryptocurrency picks up, we could see it moon again towards $115K. But—don’t hold your breath—if the sellers wake up and start dumping, we might just see the dreaded $100K support tested, with all the volatility that entails. Buckle up. 🤷‍♂️

The 4-Hour Chart

Now, for the 4-hour chart, where Bitcoin seems to think it’s playing a game of “higher highs and higher lows.” It’s been respecting an ascending trendline, which, naturally, everyone is taking very seriously—until it isn’t. Right now, it’s retracing towards this trendline and that oh-so-important $109K level. What a drama this is shaping up to be.

If it holds its ground, we could see the party continue, with Bitcoin heading towards the $115K zone like a champagne-soaked victory lap. But if it falters and falls below the trendline—well, let’s just say, don’t expect a standing ovation. A plunge towards $100K might be on the cards. 😬

On-chain Analysis

By ShayanMarkets

So, Bitcoin hit a new high of $112K. Woo-hoo! But here’s the kicker: short-term traders are taking profits, like you do when you find a dollar bill in your pocket. Nothing unusual there. However, let’s peek beneath the surface, shall we? Long-term holders, those stalwart Bitcoin veterans who have held for over 150 days, seem to be calmly watching the action, like a parent at a children’s party. They’re not cashing out. Shocking, right? 😏

In fact, the LTH-SOPR (long-term holder spent output profit ratio—don’t worry, we don’t really understand it either) remains relatively low, which means that these holders aren’t in a rush to sell. This suggests they’re more than happy to keep collecting Bitcoin, despite the sky-high price. It’s almost as if they believe Bitcoin might go even higher. Can you imagine? 🤔

This divergence of behavior tells us that the current consolidation is likely due to the short-term traders and retail investors getting jittery, not the big whales. So, if the long-term crowd remains unfazed, Bitcoin may just continue its climb—towards even higher peaks. We can only hope that, in the process, it doesn’t fall off a cliff. 🤞

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2025-05-25 13:14