Bitcoin’s $85K Showdown: Will It Fizzle or Sizzle Next?

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  • Short-term Bitcoin holders seem to be waving the white flag after a peculiar crossover in the UTXO Realized Price bands. Or maybe just confused. 🧐
  • Despite this, Coinbase Premium’s staying positive as BTC plays tug-of-war with the diagonal and 200-day MA resistances. Drama guaranteed. 🎭

Our dear friend Bitcoin, aka BTC, has been flirting awkwardly with its UTXO Realized Price bands, and it looks like its short-term holders might be tossing their coins out of the pram.

The 1-week to 1-month crowd and their older siblings, the 1-month to 3-month holders, took a nosedive beneath the more seasoned 3-month to 6-month cohort at around the $85K spot — kind of like juniors dipping below their elder’s waistline in an ill-advised limbo contest.

Historically, when this sort of crossover happens, it’s like a bell tolling for bearish times. Newbies tend to sell at a loss because, well, they didn’t read the manual. Cost bases adjust, confidence wavers, and the market mood turns gloomier than a Discworld rainy day.

So, these short-term hapless holders might be spreading the grump like confetti at a particularly miserable party, thanks to that infamous crossover signal.

That said, BTC looks more like it’s cooling its heels than plunging off a cliff—still stuck below the $90K limbo bar, grudgingly eyeing that distant summit.

The bearish vibe can do a quick vanishing act if BTC can somehow muster the courage to charge back above these realized price bands and stampede past $90K. Until then, it’s $80K and gloom, as the short-term trend sulks in bearish territory until the market remembers how to smile.

Price divergence? Oh yes. If BTC dips below certain invisible lines, the panic button might get mashed – cue the chaos. But if it decides to pull an upward surprise, stability might just crash this sad party.

What CVD, OI, and Coinbase Premium Whisper When No One’s Looking

Despite BTC banging its head on the $85,250 resistance ceiling, Coinbase Premium insisted on staying positive at a modest 0.01%. Because why not be stubborn?

Spot buying on Binance and Bybit was so intense it might as well have been setting off fireworks, with CVD numbers flirting around 307.34M and 40.65M respectively. Yet, Bitcoin ignored these love letters like a cat to a trumpet.

Open Interest slid from $6.64B to $6.55B, which could mean both some long-term positions packing their bags and newbies thinking twice before jumping in. A less enthusiastic market is never good news, unless you’re into excitement-free drama.

Meanwhile, Bitfinex’s bearish fans lingered in the shadows, clutching 71,036 BTC like it was a secret stash of stale biscuits.

Despite all this energy, traders are tiptoeing around cautiously as BTC failed to smash through resistance, keeping bullish hopes on a short leash.

Warning: if the Coinbase premium turns negative, BTC might nosedive below $84K and keep falling like a poorly thrown wizard’s spell.

But hold the trumpets! Should CVD keep flexing those muscles and Open Interest climb back above $6.6B, the market might make a run for the $85,500 prize. Right now though, BTC is playing hard to get, stuck in the place called Indecision.

BTC’s Price Saga: The Epic Resistance and Possible Futures

Bitcoin almost danced past $84,696, but then fate (and some serious resistance from trend lines and the Daily 200EMA) said “Hold it right there!”

The Daily 200MA at $87,740.23 has been like an unyielding bouncer, turning away hopefuls for weeks.

Bitcoin has tried breaking this wall more times than a pantomime villain popping out of a barrel, but with zero success—making bearish pressure about as obvious as a troll on a job interview.

If our stubborn hero manages to close above $85,000 and hold that line, it might just have room to dream big — we’re talking about heading to $90,608.53 territory. Cross that magical $90-91K threshold and the bulls could be back, riding on a wave of caffeine and hope.

On the flip side, if rejection keeps on going, BTC may start waltzing down toward $82,000 or even lower, looking as dejected as a wizard whose spell backfired.

That downward trendline, etched in stone since February, isn’t going anywhere. It’s like a persistent neighbour knocking on the door saying, “Nope, not today.”

Fail to break through, and the bears will proudly hoist their flags, reminding everyone who’s boss. Right now, BTC is teetering on a razor’s edge — the kind of drama that would keep even the Discworld’s Ankh-Morpork gossip mills buzzing for weeks.

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2025-04-18 16:12