So, according to the ever-so-reliable Vetle Lunde, head of research at K33 Research, Bitcoin‘s volatility has decided to take a vacation, lounging on a beach somewhere, sipping a piña colada. Yes, you heard that right—it’s now at “rare lows.” I mean, who knew a cryptocurrency could be so… relaxed?
In a shocking twist, a third of the top 100 companies in the U.S. are currently experiencing more volatility than our dear Bitcoin. I guess they’re all just trying to keep up with the Kardashians of the financial world. 📉
Lunde has pointed out that Bitcoin’s been this chill only four times since 2021. The last time it was this subdued? October 2023. Coincidence? I think not! It’s like the universe is trying to tell us something, but I’m not sure if it’s “buy low” or “run for the hills.”
Bitcoin has been on a rather anemic price diet lately, failing to break the $100,000 barrier. Currently, it’s trading at a modest $96,730, according to CoinGecko. I mean, at this rate, it might as well be a coupon for a discount at a thrift store. 🤑
Now, the Glassnode cofounders, Jan Happel and Yann Alleman, are whispering sweet nothings about a potential breakout. They’re asking, “Will it break down first for a bear trap, grab liquidity, and then pump?” It sounds like a bad reality show plot, doesn’t it? Next stop: $97K–$98K, and if it holds, $100K becomes a piece of cake! 🍰
Bitcoin spot ETFs keep seeing outflows
While the bulls and bears are on the edge of their seats, it seems the bears might have the upper hand for now. Who knew bears were such good dancers?
Bitcoin exchange-traded funds (ETFs), which were the life of the party during Bitcoin’s price rally in 2024, have now recorded four consecutive days of outflows. On Thursday, they bled another $157 million. It’s like watching a slow-motion train wreck, but with more spreadsheets. 📊
Bitcoin underperforming gold
In a plot twist that no one saw coming, Bitcoin has struggled to outperform gold this year. Yes, the shiny metal that’s been around since the dawn of time is still stealing the spotlight. Talk about a midlife crisis for Bitcoin!
ByteTree founder Charlie Morris has weighed in, suggesting that Bitcoin’s underperformance isn’t surprising since it tends to move in tandem with risk assets, like tech stocks. “They take turns,” he says. Gold is the responsible adult during risk-off moments, while Bitcoin is the wild child at the party. 🎉
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2025-02-14 19:24