Ah, darlings! Gather ’round as we delve into the delightful world of Bitcoin, where fortunes are made and lost faster than you can say “cryptocurrency.” An analyst, who seems to have a crystal ball—or perhaps just a very good Wi-Fi connection—has declared that our dear Bitcoin, after a rather dramatic tumble to a mere $76,000, is still very much in the throes of a bull market. How positively thrilling! 
This charmingly pseudonymous analyst, Rekt Capital (a name that sounds like a villain from a B-movie, doesn’t it?), has taken to the social media platform X to enlighten his 542,000 followers. He assures us that Bitcoin’s current escapade has yet to reach its zenith. Oh, the suspense! 
“BTC bull market progress: 82.5%. (Progress will speed up on parabolic advances and slow down on deeper retraces).” Well, darling, if that isn’t the most cryptic way to say “hold on tight,” I don’t know what is!
Our dear analyst also regales his 107,000 YouTube subscribers with the notion that this latest correction is not the harbinger of a bear market. Oh, how refreshing! He insists it’s merely a “downside deviation,” which sounds like something one might encounter at a particularly dull dinner party. 
“Many people have been talking about this being a bear market, but it does look like it is a downside deviation period very similar to what we’ve seen back in the past. Obviously, these downside deviation periods are changing across time, but it’s really important to look at the charts in a level-headed manner and try and look at it in an unbiased way and not scream bear market whenever we see a pullback that is actually very similar to the one we saw here [in 2024].” Oh, darling, if only we could all be so level-headed! 
This was a 32% pullback [in 2024]. This is a 30% pullback [when Bitcoin corrected to the $76,000 range this month], so very similar downside deviation in that regard, but really important to keep level-headed and look at the data, look at the chart, and zoom out when in doubt.” Wise words, indeed! But let’s be honest, darling, who doesn’t love a good panic now and then?
In the grand theatre of technical analysis, a downside deviation is akin to a dramatic plot twist—an asset breaks its immediate support, only to rise from the ashes like a phoenix, or perhaps just a very determined cat. 
As of this very moment, Bitcoin is trading at a dazzling $88,028, up a sprightly 3.4% in the last 24 hours. How positively exhilarating! 
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2025-03-26 03:01