A Right Mess, This Bitcoin
What’s all the fuss about this “Taker Buy Volume”?
Blimey! It seems folks are getting a bit shy with their money, don’t they? Less buying, more dithering… a proper recipe for trouble, if you ask me. A reversal is brewing, oh yes!
Who’s dumping all this Bitcoin, then?
It’s a right pickle, isn’t it? These ‘Sharks’ and those silly little ‘Retail Traders’ are having a bit of a fire sale. A most unpleasant spectacle. 🙄
So, Bitcoin [BTC] did a bit of a jig four days ago, climbing up to a whopping $114,800. Not bad for a digital doodle, eh?
And as we speak, it’s wobbling around at $113,541, having had a minuscule rise of 1.16% in the last 24 hours. A tiny little bump, really, when you consider the whole kerfuffle.
But don’t be fooled, my friends. Underneath the surface, things aren’t exactly rosy. It’s feeling a bit… wobbly. 🤪
The Buyers are Vanishing!
According to those clever chaps at CryptoQuant, this ‘Taker Buy Volume’ has been shrinking for ten whole months! Ten! It’s back to where it was at the very beginning of 2024. A dismal state of affairs, truly.
When buyers disappear like this, it’s usually a sign that they’re thinking, “Hmm, perhaps I should keep my money in my pocket,” which, frankly, is a perfectly sensible reaction. Especially on Binance, where confidence is lower than a worm’s belly.
People are selling, oh yes, they are! Axel Adler points out that this ‘SOPR’ thingy just can’t manage to get above 1. Which is a bit of a bother.
When *that* happens, the folks who bought Bitcoin when it was cheaper suddenly make a profit, and what do people do with a profit? They sell, of course! Greedy lot, aren’t they? 😤
With everyone wanting to sell and nobody wanting to buy, this whole thing could go belly up any minute now! A dramatic drop or a long, boring snooze is on the cards.
Who are These Sneaky Sellers?
AMBCrypto reckons it’s mainly these ‘Sharks’ and those rather impulsive ‘Retail Traders’.
Those big ‘Whales’ and ‘Mega Whales’ are shifting their money around, but the Sharks? Oh, they’ve been selling like mad! 🦈
Checkonchain says the Sharks have been popping their heads in to exchange their BTC at a rate of 109k BTC. A rather alarming number, wouldn’t you say?
And the little guys aren’t any better! The ‘Retail Holders’ are also offloading their Bitcoin like unwanted sweets. Throughout September it’s been steadily downwards.
The ‘Fish’, the ‘Crabs’, even the ‘Shrimps’ are dumping their coins! A worrying sign, indeed. When these little fellas start selling, you know something nasty is brewing.
What’s Going to Happen Next?
AMBCrypto tells us Bitcoin has two problems: buyers fleeing and sellers swarming. A rather unpleasant combination, wouldn’t you agree?
So, either it plummets faster than a stone, or it just sits there, doing nothing at all, for ages. If the selling gets worse, Bitcoin might fall all the way down to $111,054. Ouch!
But if things stay as they are, it might just bob along between $111,000 and $114,000. Exciting stuff, eh? 😴
If the buyers ever manage to get their act together and push Bitcoin above $114,000, then maybe, just maybe, it’ll start to climb again. But don’t hold your breath. 🙅♀️
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2025-10-01 03:10