The digital gold, Bitcoin-or as the disillusioned now call it, “the fool’s errand”-has settled at $91,500 after yet another spectacular nosedive. Axel Bitblaze, a pseudonymous oracle of the crypto underworld, claims this decline mirrors the dark days of Q1 2025, when Bitcoin peaked in January only to crumble by 17%, while the S&P 500, ever the smug aristocrat, continued its relentless ascent.
Back then, the faithful clung to the delusion that Bitcoin was merely “cooling off.” But fate, ever the cruel jester, had other plans. Four weeks later, the S&P 500 too succumbed, dragging both markets into a six-week abyss where BTC plummeted 25% and the index shed 21%-a symphony of financial despair.
The Last Gasp of the Bears?
Bitblaze, with the solemnity of a Soviet-era bureaucrat announcing another five-year plan, insists history repeats itself. Bitcoin peaked on October 6, already shedding 18%, while the S&P 500, sluggish as a hungover commissar, only now begins its descent.
The pattern, he declares, is unmistakable: Bitcoin falls first, without reason or mercy; equities, ever the laggard, cling to optimism until reality smacks them like a Siberian winter; investors panic; BTC’s plunge worsens briefly; then, like a prisoner glimpsing sunlight after decades in the gulag, Bitcoin recovers faster than stocks. A final, brutal sell-off follows-and then, perhaps, redemption. Bitblaze believes we’re in phase three or four, with most of Bitcoin’s suffering already endured.
If the market awaits one final bearish trigger, he warns, it may already be lurking-Japanese bond yields creeping upward, smaller U.S. banks gasping for liquidity, and rumors involving political elites sending traders into hysterics.
The current downturn, he muses, is tied to the first two-slow-burning crises that erupt like a suppressed cough in a Politburo meeting.
“So yes… the worst may be over. Or not. Another shakeout? Why not? The market loves drama.”
The Bears Still Reign
Axel Adler Junior, Bitblaze’s less-charismatic counterpart, scoffs at any premature optimism. The BTC market structure, he declares, remains as bearish as a Soviet breadline. The Bull-Bear Structure Index has inched up from -41.89 to -27.82-still deep in the red, still screaming “sell.” Taker flow, derivatives pressure, and ETF outflows continue their grim parade.
The slow version of the index? Even worse, sliding from -14.04 to -21.90-a deepening structural rot, like a bureaucrat’s corruption spreading unchecked.
Meanwhile, the Coinbase Premium Gap sits at -$90, a pitiful whisper of institutional interest. Retail traders on Binance now dictate the market’s rhythm-a recipe for chaos until the big players return, if they ever do.
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2025-11-20 08:42