Why Bitcoin is Like That Friend Who Promises to Change but Never Does

by

So, here we are again, folks! Bitcoin [BTC] has decided to play a riveting game of “let’s just hover around” for the past two weeks, bouncing between $60k and $72k like it’s on some sort of crypto trampoline. Right now, it’s chilling at $67.8k, feeling a bit frisky but not too committed.

Meanwhile, the market vibes? Oh, they’re just dripping with extreme fear. You know, the kind you get when your friend says they can totally quit their job and start a band-despite clearly needing a backup plan. Institutional holders are all about that “buy more” life, even while riding the emotional rollercoaster of short-term volatility risks.

AMBCrypto throws a warning like it’s confetti: traders thinking of going long might just find themselves in a long squeeze. Picture it: leverage longs piling up like dirty laundry and the long/short ratio doing a tango during this consolidation phase.

These delightful developments could lead us smack into a phase of maximum stress, which sounds fun, right? Just what we need to form a long-term market bottom. Who doesn’t love a good bottoming out?

Bitcoin’s Absence of a ‘Full Cleansing’

Now, let’s talk about the Sales Pressure signal. It’s been MIA for nearly three years, leaving Bitcoin sitting pretty above the on-chain realized price of $54.8k. Apparently, we’ve hit a record 1,133 days of this absence of stress-Axel Adler Jr., our crypto guru, is taking notes.

Adler also dropped some knowledge about three key network cost basis levels we should keep our peepers on: the short-term holder realized price at $91.4k, the network’s realized price at $54.8k, and the long-term holder realized price at $38.7k. I mean, who doesn’t love a good spreadsheet?

Now, if you want to assess the cyclical risk for holders (and who wouldn’t?), that $54.8k level is your bestie. If we see a sustained drop below this, it might just launch the average position into loss territory, activating the sales pressure indicator like it’s a hidden boss fight.

Current market regime? Definitely bearish. Long-term holders are still in profit, but that maximum stress phase? Nope, not yet. Not today, Satan.

The $54.8k level is a crucial barrier-like a bouncer at a club, keeping Bitcoin at an elevated risk. It’s also been a structural support in previous cycles, which is comforting until it isn’t.

In a hot take on X, analyst Darkfost revealed that monthly cumulative Bitcoin demand has finally turned positive after three months of slumping around like a sad puppy. This metric could be an early sign that, despite the long-term bearish environment, structural accumulation is managing to gobble up the new supply.

A few weeks of sustained positive monthly demand would really be the cherry on top for a BTC recovery. Fingers crossed-let’s hope this isn’t just a fleeting moment of optimism!

Final Summary

  • The Bitcoin realized price at $54.8k is like the safe word in a relationship-it keeps the bears at bay and the stress levels manageable.
  • The positive shift in apparent demand is like a small glimmer of hope amidst all the gloom. Let’s embrace it!

Read More

2026-02-21 16:17