Bitcoin’s Descent: A Tale of Woe and Speculation in the Crypto Abyss

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<a href="https://minority-mindset.com/btc-usd/">Bitcoin</a>‘s Descent: A Tale of Woe and Speculation in the Crypto Abyss

Ah, the price of Bitcoin, that capricious creature, plummeted by a disheartening 3% on a fateful Tuesday, as investors, those ever-cautious souls, turned their gaze toward the impending meeting of the US Federal Reserve. This sudden dip, akin to a thief in the night, triggered a cascade of liquidations, erasing the once-bullish momentum that had kept BTC hovering near the lofty heights of $84,000. How tragic! 😱

CryptoQuant analysts, those harbingers of doom, now warn that the relentless selling pressure may extend Bitcoin’s correction, with ominous downside risks pointing toward the abyss of $78,000. Oh, the humanity! 😅

Bitcoin (BTC) tumbles as bearish speculations swirl like a tempest before the Fed Meeting

On that fateful Tuesday, Bitcoin (BTC) wobbled precariously, triggering a veritable cascade of liquidations across the derivatives markets. It had held steady around the $84,000 mark since the week’s dawn, buoyed by the winds of optimism from events such as Microstrategy’s audacious listing of $500 million worth of shares for sale to fund further BTC purchases. A noble endeavor, indeed! 🤑

Yet, alas! The price of BTC succumbed to the bearish pressure on Monday, and the narrative of despair overshadowed the market discourse on Tuesday, as investors leaned cautiously, their hearts heavy with anticipation of the US Fed rate decision expected on Wednesday. What a tangled web we weave! 🤔

CryptoQuant analysts predict a bear market that could last an eternity—well, 6 to 12 months

CryptoQuant analysts, those soothsayers of the digital realm, now warn that Bitcoin may face a bear market lasting six to twelve months, sending shivers down the spines of the cryptocurrency community. The firm’s CEO, Ki Young Ju, first alerted the masses to this grim prediction, as if he were the ghost of Christmas future. 🎃

#Bitcoin bull cycle is over, expecting 6–12 months of bearish or sideways price action.

– Ki Young Ju, CryptoQuant CEO, March 18, 2025

In a response that could only be described as prophetic, another analyst from CryptoQuant, Maartun, flagged a previous trading pattern where long-term holders, in a fit of despair, dumped 827,783 BTC in December 2024. A most curious coincidence, wouldn’t you say? 🤷‍♂️

This tragic event occurred just before the ongoing correction phase began after the inauguration of Trump in January. A repeat of such a pattern could see BTC struggle for momentum in the months ahead, like a ship lost at sea. 🚢

Optimism, however, had reigned supreme following MicroStrategy’s announcement of a $500 million share sale to bolster its BTC reserves, keeping Bitcoin prices near $84,000 until the sharp reversal on Tuesday. How fleeting is hope! 😩

CryptoQuant’s CEO, Aarun, states bluntly, “Mass sales by long-term holders signal a major shift, not a minor blip.” A statement so stark, it could chill the warmest of hearts. 💔

With the US Federal Reserve’s rate decision looming ominously on Wednesday, uncertainty intensifies. Investors now confront the grim reality that this decline may mark the beginning of a prolonged bearish phase, rather than a mere fleeting dip. How cruel is fate! 😬

Bitcoin Price Forecast: BTC Risks Drop to $78,000 as Momentum Weakens

The forecast for Bitcoin’s price reveals a continued weakness, trading at $82,090 after a 2.28% drop, with downside risks increasing as BTC fails to break resistance at $84,217. The 50-day and 100-day SMAs at $92,215 and $95,582, respectively, indicate a bearish trend, while the green trend-line offers the last flicker of support before a potential breakdown. How poetic! 📉

The negative Balance of Power (BBP)

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2025-03-19 07:24