Bitcoin’s Descent: A Dostoevskian Tale of $70K and Despair 😂📉

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In the bleak winter of 2025, the digital gold, Bitcoin, plummeted by a third, its value crumbling beneath the icy weight of $90,000. A spectacle of greed and folly! For what is a 30% drop but the universe’s cruel joke on modern man? The market, once a roaring beast, now whimpered like a forsaken soul in purgatory. Key supports shattered like glass, and analysts-those self-proclaimed prophets of the blockchain-whispered of bearish omens. “Mid-term doom!” they cried, clutching their crystal balls of dubious wisdom.

Yet lo! The eternal question arose: At what price shall we kneel before the altar of the bear market? Is this not the age-old struggle of man against fate? Some, like the enigmatic Jackis (a name as cryptic as his insights), declared that even a descent to $70,000 would not mark the apocalypse, but merely a “macro range for 2025.” A “temporary pause,” he said, as if the markets were but a weary traveler resting on the road to perdition. “Unlike 2022 or Q1,” he scoffed, “this is but a dance of OGs and institutions-no need for panic, only existential dread.” 🎭

“But unlike 2022 or Q1 of this year, this drop isn’t driven fundamentally or by a broader risk leg but rather exchange of hands between OGs and institutions.”

BTC Struggles Below Key Support: A Tragedy in Five Acts

The 50-week Exponential Moving Average-once the sacred line of bull markets-now lay trampled beneath the hooves of chaos. A sustained stay below this blue line, dear reader, is the death knell of bullish dreams. In mid-November, the price action sank below this threshold, and the lights began to flicker. Unless reclaimed, the uptrend-a fragile, mortal thing-may perish in the abyss. Will $100,000 rise as a savior? Or shall we march toward $70,000, the Promised Land of despair?

A descent to $60k-$70k, they say, may herald the dawn of a new era-or the final act of a tragic opera. The historical breakout zone, now a tomb for hope, awaits its victims. Even the exiled Burniske (a name synonymous with crypto’s fall from grace) nodded in grim agreement. The stage is set. The curtain rises. 🎭

BTC Losses Near Bear Market Regimes: A Symphony of Suffering

On-chain data, that cold, unfeeling narrator, paints a picture of ruin. The aSOPR metric-a barometer of profit, loss, and existential despair-teeters near the abyss, threatening to plunge below 1. Previous dips? They were the prelude to capitulation, to the surrender of will. And the Total Supply in Loss? Seven million BTC, dear reader, now languish in red. A number not far from the 8-10 million that marked the darkest hours of prior cycles. Glassnode, that digital oracle, whispers of “mounting investor frustration” and “pronounced bearish conditions.” A poetic description of financial ruin. 📉

“This pattern closely mirrors early transitional phases of prior cycles, where mounting investor frustration preceded a shift toward more pronounced bearish conditions and intensified capitulation at lower prices.”

The $88,000 level-a fleeting mirage-now teeters on the edge of oblivion. A further drop to $60k-$70k? Oh, how the mighty teeter! 🤡💸 The market, a soul in torment, seeks salvation in numbers, in charts, in the cold embrace of logic. But logic, dear reader, is a fickle friend in times of crisis.

Final Thoughts: A Dostoevskian Conclusion

  • Bitcoin may yet trigger bear market capitulation at $60k-$70k-a finale worthy of a tragic hero.
  • Reclaiming $98k-$100k or the 50W EMA could be the redemption arc… or merely a brief reprieve.

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2025-12-19 09:17