Bitcoin’s Grand Tragedy: A Million-Dollar Melodrama Sinks Below 65k!

by

Mesdames et Messieurs, the stage is set and the players are paid in dreams, only to be roped into a most tragicomic spectacle: Bitcoin, that fickle diva, once glimmering at $67,695, now gasps below $63,962. The crowd? Traders who, intoxicated by promises of a bounce, find themselves better suited to the theatre of the absurd.

According to the famed diviner CoinGlass, spirited spectators of the realm of cryptocurrency have been left on the stage of loss: $616.41 million in liquidations. And as a noble tragedy demands a well-cast cast, the majority of our fallen heroes – those daring longs – have taken the lead roles, amounting to a staggering $524.28 million. Bravo, indeed!

What the fine art of markets has delivered is five consecutive monthly red candles – a streak so long and uncelebrated it practically deserves its own parterre. One might even say Bitcoin is locked into a prolonged period of melancholia, akin to a most relentless out-of-tune symphony.

Meanwhile, the wider world of finance seems to be looking like a crowded boulevard, adjusting to the Supreme Court’s decree against The Great Trump Tariff – a plot twist that certainly keeps the audience guessing.

Zooming out for a grander view, the venerable analyst Michaël van de Poppe suggests that Bitcoin remains locked in a downtrend that rivals, perhaps, the fate of a tragic hero. “The answer is: not bueno-Bitcoin could not hold above the $65,000 threshold and is still falling.” I wish I could say that’s the conclusion of a brilliant moral drama, but I’m merely a humble servant of the market’s stage.

“On the flip‑side: gold continues to rally. The inverse correlation remains to be happening. Well, we’ll see how that unfolds in the coming months. Clear that the trend remains to be down,” he muses, a gentile irony that would have made Molière himself chuckle at the absurdity of the modern bourgeois economy.

Read More

2026-02-24 00:02