Darling, Bitcoin has simply sashayed up by 11.81% since its little tantrum at $84k on the 1st of December, gracefully pirouetting to the $94k resistance level. 🌟 How utterly unexpected, my dear-it’s left the market darlings clutching their pearls and wondering what hit them! 💎
Such drama in under 48 hours! One can’t help but chuckle at the poor souls who were convinced the downtrend would persist. CoinGlass, that ever-so-reliable gossip, reveals $223 million in liquidations, with a staggering $209.5 million in short liquidations. Oh, the schadenfreude! 😈
Across the crypto ballroom, $492.11 million was liquidated in a single day-$418.53 million of which were short positions. One can almost hear the collective gasp of the shortsellers. 🍿
Why, oh why, is crypto rallying this week?
My dear, let’s not be naive-the long-term trend remains as bearish as a socialite at a budget supermarket. Market sentiment? Pessimistic, darling. But Bitcoin’s jaunt beyond $92k to the $94k resistance? A significant development, indeed. 🕵️♂️
Bitcoin leads, and the crypto minions follow-how très typical. So, let’s dissect this BTC rally, shall we? The Bitcoin ETF flows turned positive on the 25th of November, after a rather dramatic outflow. Sellers, it seems, are losing their grip-for now. 🤑
The Bank of Japan’s tighter policy? A damp squib, my dear, sending U.S. investors into a cautious tizzy. And $88k? A critical support level, according to the CVDD channel. How utterly technical! 📊
An AMBCrypto report suggests this rally is all about the hunt for liquidity. Predictable, really. And the Fed ending quantitative tightening on the 1st of December? Well, darling, that’s like handing a martini to a parched partygoer. 🍸
A $13.5 billion injection into the banking system? It’s no wonder crypto sentiment is soaring, sending Bitcoin higher. Meanwhile, the BOJ’s tightening has caused sell-offs in March, July, and January-how dreadfully punctual! ⏰
And the probability of a U.S. Federal Reserve rate cut of 25 bps in December? A whopping 89.1%. Where prices go next? My dear, it’s anyone’s guess. But expect volatility-it’s the spice of life, after all! 🎭
Final Musings
- A 12% Bitcoin rally since Monday? Impressive, but hardly a game-changer for the long-term bearish trend. 🧊
- Macro developments are tugging the crypto market like a tug-of-war at a garden party. Volatility? Absolutely darling. 🎪
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2025-12-04 00:11