🚹 Bitcoin’s Wild Ride: $88,500 or Bust? Glassnode Says Hold Onto Your Hats! 🚀

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Well, butter my biscuit and call me a hodler, but it seems the good ship Bitcoin is sailing into some mighty choppy waters, according to those clever folks over at Glassnode. They’ve been squinting at their charts and muttering about how Bitcoin’s current price is about as stable as a three-legged stool on a rocking boat. đŸ€ 

Bitcoin’s Next Stop: The Realized Price Rollercoaster

In their latest weekly report-which I’m sure was penned with a quill and ink for that extra touch of gravitas-Glassnode has been clucking about how Bitcoin has taken a nosedive below the short-term holder (STH) Realized Price. Now, don’t let the fancy lingo fool you. The “Realized Price” is just a highfalutin way of saying, “What did the average Joe pay for his Bitcoin?” 🧐

For your average investor, this break-even point is about as important as a life jacket on the Titanic. If Bitcoin retests this level, it’s like watching a circus acrobat decide whether to stick the landing or face-plant into the sawdust. Profits? Losses? Who knows! But one thing’s certain: it’s a spectacle worth the price of admission. đŸŽȘ

Now, the STH cohort-those folks who bought their coins in the last 155 days-are about as jumpy as a cat in a room full of rocking chairs. They’re the ones Glassnode says are particularly sensitive to short-term volatility. And with Bitcoin plummeting like a lead balloon, these poor souls are underwater faster than a submarine with a screen door. 🌊

As you can see from the chart above, Bitcoin is trading so far below the STH Realized Price ($112,500) that it might as well be in a different zip code. Glassnode warns that historically, such deep discounts have been the financial equivalent of a “Kick Me” sign-increasing the odds of a further tumble toward lower supports. Yikes. 😬

One such support is the Active Realized Price, which is basically the cost basis of the Bitcoin supply that’s still kicking around in the economy. You see, a chunk of Bitcoin has been sitting dormant for so long that it’s essentially become the cryptocurrency equivalent of a forgotten sock in the dryer. These coins are “economically inactive,” meaning they’re about as useful as a screen door on a submarine. đŸšȘ

Glassnode notes that the Active Realized Price-currently lounging around $88,500-has been a critical lifeline during past market corrections. So, if Bitcoin decides to take a header, this is the level to watch. Will it hold? Or will Bitcoin break through it like a bull in a china shop? Only time will tell. ⏳

But wait, there’s more! CryptoQuant has chimed in with their two cents, pointing out that Bitcoin has also dipped below the 365-day moving average (MA). They’re calling it a “key technical and psychological support level,” which is just a fancy way of saying, “This is the line in the sand. Cross it, and all bets are off.” đŸ–ïž

So, with Bitcoin losing both the STH Realized Price and the 365-day MA, the big question is: Will it retest the Active Realized Price and other lower supports? Or will it bounce back like a rubber ball? One thing’s for sure: it’s going to be a wild ride. Buckle up, folks. 🚀

BTC Price

At the time of writing, Bitcoin is bobbing around $103,300, down over 6% in the last seven days. That’s enough to make even the most stoic hodler sweat a little. But hey, as they say in the Wild West of crypto, “If you can’t stand the heat, get out of the blockchain.” đŸ”„

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2025-11-07 08:17