Bitcoin’s Melancholy Dance at $105K: Hopes Simmer Like Tea in Winter ☕

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Key takeaways, or as we Russians say, the bitter truths: 😏

  • Deep liquidity bids cluster around $105,000-$100,000, whispering of a melancholic stabilization. 📈

  • Over 90% of BTC supply stays profitable, ah, merely a leverage spree, not the grand panic opera. 💸

  • A reclaim of $117,500 might flip this sad correction into a jolly rally-oh, the irony! 🌟

Bitcoin (BTC), that cunning scoundrel, slips into its “clean-up phase,” as weary buyers drape bids beneath $105,000, following a grand deleveraging masquerade. 😏

The Material Indicators folk, those shrewd observers, report “strong sell pressure on BTC,” with feeble support at $107,000. It might linger, but alas, bids whisper not loud enough to sustain such heights. 📉

Instead, the heavier orders huddle from $105,000 to $100,000, like peasants around a dying fire. Dip below $105,000, and the yearly open at $93,500 beckons, a long-term siren. 🚧

Glassnode, that analytic sage, murmurs Bitcoin stabilizes above the 135-day average, recovering from its frivolous tumble. 👴

The Young Supply MVRV, measuring short-term holders’ illusions, sinks to 1.0, cooling speculative fires where new fools no longer feast on profits, easing the sell-off’s weary sigh. ❄️

Glassnode insists this downturn mocks past scandals-like FTX’s farce or Terra Luna’s tragedy, where less than 65% of supply gleamed profitably. Here, 90% remain in green, laughter echoing: a leverage jig, not mass hysteria. 🎭

Analyst Axel Adler Jr. adds, with mature melancholy, that the market’s pullback reflects wise restraint. Volumes swelled-spot $44B, futures $128B, open interest shed $14B-yet only $1B forced liquidations, proving 93% deleveraging was voluntary, a controlled waltz, not a catastrophic stumble. 💃

Bitcoin bulls gaze at $117,500, but will destiny hum a different tune? 🎶

With stability’s faint glow, $117,500 looms as bullish citadel. A resolute close and consolidation could transmute correction into rally within the week. 🚀

Yet sideways it may drift, $110,000 to $100,000, forming a bottom like a teacup’s chipped edge. The recent nadir of $101,500 on Oct. 10 lingers for retesting, before a true bottom blooms above $100,000. 🌱

On grander stages, trader Merlijn notes Bitcoin retesting the uptrend since 2022, historically a trampoline for corrections. If it endures, the bull saga persists intact-a mere mid-cycle nap, not decline’s dark embrace. 🛏️

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2025-10-14 21:54