Our dear Bitcoin, like a gentleman at a party with no dance card, has spent the past month adrift in the charts’ ballroom, waltzing nowhere in particular. One might say it’s as directionless as a penguin in a hurricane.
A recent AMBCrypto report, penned with the urgency of a man late for tea, suggested this was a “consolidation phase”-a fancy way of saying it’s taking a breather, perhaps sipping a martini while the world frets. Accumulator addresses, those quiet sultans of BTC hoarding, have been adding to their holdings with the enthusiasm of a man buying a second loaf of bread.
Yet, this demand-modest as a teacup compared to the ocean of capital-hasn’t even managed to nudge Bitcoin above the $94k support zone, a fortress it’s been eyeing like a beggar gazing at a five-star restaurant.
Though the $94k resistance has been tested with the persistence of a dog chasing its tail, Bitcoin [BTC] has tumbled back toward $89k-$90k, a range so dreary it could put a walrus to sleep. One might think it’s playing a game of “how low can you go?” with a side of existential dread.
The long-term outlook? Well, dear reader, it’s as cheerful as a wet umbrella. Liquidity signals, those crypto seers, hint at a bullish overture. The global M2, now at all-time highs, may yet stage a grand encore for the crypto world in 2026. One can only hope the audience isn’t already asleep.
The CEO of Alphractal, a man of such wisdom he could probably solve world hunger with a spreadsheet, noted Bitcoin was at a key on-chain support. He also mentioned the realized cap impulse metric-yes, that one-hovering at multi-month support, even as prices clung to the $94k cliff like a spider on a windowsill. One wonders if a broom would help.
Exploring the Lack of Demand for Bitcoin
The Bitcoin apparent demand, a metric as thrilling as a tax audit, weighs new demand against supply from miners and long-term holders. Since late November, it’s been negative enough to make a grumpy cat smile. For a brief moment in November, it looked like demand might bloom, but alas, it withered faster than a daisy in a drought.
The on-chain realized profit and loss metric, which tracks sentiment like a gossip columnist at a royal wedding, reveals a tale of woe. Over two months, holders have faced losses so steep they’d make a mountain climber reconsider their career. The recent drop to $84k? A nadir so bleak it could rival the 2022 bear market. One might say the bulls are as optimistic as a man betting on a snowstorm in the Sahara.
The price action, dear reader, is a comedy of errors. Buyers face sellers with the tenacity of a toddler refusing to share toys. To breach $100k, Bitcoin will need capital inflows the size of a small country’s GDP. Until then, it’s business as usual: stagnation, sighs, and the occasional emoji.
Final Thoughts
- Though Bitcoin has tested $94k like a man testing a hat in a shop window, it remains stuck in limbo, unable to rally with the grace of a drunkard on a tightrope. 🤡
- The metrics scream “no demand!” with the urgency of a man yelling at a vending machine. Without a change, the recovery hopes of BTC may well join the dustbin of history. 🗑️
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2025-12-15 00:18