In these dark and bitter days, when the slanting winds of geopolitics batter both ancient lands and the quiet hearts of speculators, Bitcoin (BTC)—that digital hope, that pixelated promise—finds itself thirsting for demand, like a convict in a Siberian camp gazing wistfully at a frosted loaf of bread just out of reach.
CryptoQuant, our monks chronicling the invisible march of numbers, have peered grim-faced into the weekly report and pronounced with bureaucratic certainty: momentum has reversed. What once surged towards a shining summit of $112,000 now retreats — like a poorly coded runaway process — to a negative reading of -2 million BTC. Ah, mathematics, that pitiless jailer! 🏚️
Bitcoin Demand Slouches Towards the Icy Horizon
Spot demand crawls forward, but with all the vigor of an exiled toothless dissident. In the last 30 days, growth limped in at 118,000 BTC, down from the once-triumphant 228,000. Not only does the 30-day moving average shame us, but even the shadows cast by passing whales have shrunk: their monthly gluttony halved from 3.9% to a paltry 1.7%—not so much whale song as whale whimper.
As for the mighty ETFs, even they appear seized by existential ennui, their daily BTC gobbles tumbling from 9,700 to a sparse 3,300. The market’s new recruits? Scarce as warm socks in a Gulag winter. Short-term holders shuffled off 0.8 million tokens, perhaps realising that hope, in this case, was sold by weight and not by merit.
Futures investors, ever opportunistic, sold into the spike—scooping up silver spoons before the kitchen burns down. They’re now opening short positions with glum precision as BTC sinks beneath $105,000, its fortunes tossed about with all the finesse of a bureaucrat calculating bread rations during a blizzard between Israel and Iran. ☃️💣
What Is Left For Hope Beyond the Steppes?
Should the whales and formidable ETFs not reawaken their hunger, what then? For a new rally, one must pray for fresh hands, eager and naive, to relieve the weary veterans of their heavy bags. Failing this, we are left eyeing the bleak horizon: BTC faces a chilling descent beneath $100,000, with the only warmth offered by the meager support near $92,000—the “Traders’ On-chain Realized Price” (the crypto market’s fire pit, if you will).
If that support splinters? We tumble further, down to $81,000, the lower band of On-chain Realized Price—a number so low, even the Kolyma River would cast stones in mockery. So strap on your ushankas, comrades. Buy, sell, or simply laugh at the absurdity—because, much like the old days, everyone’s just waiting in a long, cold line. 🧊🥶
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2025-06-22 17:42