BTCUSD All this handwringing over Bitcoin's price action lately makes me wonder if people sit in a bubble and watch BTC trade all day.
How long did we hear about "we are in a risk-off market"? That was true right up to the minute that it wasn't. Not sure if you looked around this week, but the former high-flyers are suddenly back in favor and it's looking very much like a "risk-on" market mindset is spreading again.
Bitcoin falls in that bucket as the tip of the spear, along with TSLA, MSTR, PLTR, HOOD, COIN, AMD, BBAI and a slew of others. And a bunch of alt coins to boot.
Gold had a blow-off top and those profits are looking for a new home. Large global trading partners began lining up to sign new tariff deals much more favorable to the US. Thus, money started moving back to more risky plays that "suddenly" were lookin a lot cheaper than 60 days ago.
No conspiracies, no black helicopters, no secret meetings of the Bavarian Illuminati's to hold a consensus vote. Just the normal ebb and flow of how markets work.
Enjoy the ride, keep both arms and hands inside the coaster at all times and secure your valuables.
Alright, fellow chart apes, hear me out before you YOLO your life savings into green candles...
This latest BTC move? Yeah, it’s looking sus. Where are the giga-whale spot buyers? Nowhere to be seen. Instead, we’ve got ETFs doing their thing and derivatives open interest inflating like it just discovered McDonald’s all-you-can-eat menu. 🍔📈
And you know what usually comes after open interest gets this chubby? Yup… a good ol’ rekt-fest before we go higher.
I’m thinking we take a little scenic route down to 88K-$90K, give the 200MA a nice hug 🤗, shake out some leverage junkies, and then we’re back on the rocket ship. 🚀
BUT... if BTC pulls a surprise and holds above $95K, I’ll happily shut up and join you all on the ride to $100K+ — I’ll bring the champagne, you bring the exit liquidity. 🍾
Full disclosure: I’m in a short right now with my stop-loss chilling at $95.5K. So if we blast off from here, I’ll be donating to the market like a true degen 💸
Anyway, just my highly unqualified opinion. Trade safe. WAGMI! 😎