Bitcoin Plunges, But Don’t Worry – It’s Probably Going To Get Worse! 😱

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So, Bitcoin (BTC) just dipped below the $90,000 mark for the first time in seven months. Yep, you read that right. A 29% drop from its October high. Nothing to worry about, right? I mean, it’s not like the world is ending… Or is it?

But hold on, because some very smart people (aka market observers) are now suggesting that this isn’t just a little dip-it’s the start of something much bigger. Apparently, on-chain data is showing a bit of a troubling build-up of selling pressure on major exchanges. And, spoiler alert: it doesn’t look like we’ve hit the “true bottom” yet. 🎢

Uh-Oh, Sell-Side Pressure Alert 🚨

CryptoQuant, the all-knowing oracle, has analyzed three “key” on-chain metrics that are basically screaming, “Get out while you still can!” First up, the Average Bitcoin Deposit Volume on Binance. It’s now past the “danger” level of 0.9. History lesson: when this metric spikes, the price usually reacts… badly. Like, really badly. Investors are apparently itching to sell. Go figure.

Next, Binance’s total Bitcoin reserves have ballooned to over 580,000 BTC. Yikes. And according to analyst CoinDream (who I’m sure is very wise), when this happens, it means there’s a potential sell tsunami just waiting to happen. It’s like a ticking time bomb, but in cryptocurrency form. ⏳

This kind of thing tends to keep the market in a bearish mood, unless there’s a massive surge of buyers. Which, spoiler alert again, there’s not. CoinDream kindly reminded us that recent reserve increases have been linked to, you guessed it, periods of price weakness. Shocking, I know.

And finally, more than 5,000 BTC hit exchanges yesterday. The largest sell-off since Bitcoin decided to take a nosedive below $110,000. Woohoo. More bad news, but at least it’s consistent.

“Current on-chain data, such as market buy volume and other demand indicators, do not yet signal a bottom,” CoinDream said. “Caution is advised, as further downside remains likely.”

Welcome to the Land of Market Fear 🏚️

This bearish outlook is all happening within the context of a much larger market-wide meltdown. As of now, BTC is floating around $90,700-down 5.4% in the last 24 hours and almost 14% in the past week. Ouch. In case you were wondering, this is all part of a massive wipeout of over $1.1 trillion. Some call it a “structural reset”… but let’s be real, it’s a hot mess.

The negative vibes aren’t just in the headlines-technical indicators are also jumping on the “let’s ruin everything” bandwagon. Bitcoin has decisively broken below its weekly 50-period Exponential Moving Average (EMA). Yep, that key support level that kept us all hopeful during the bull market? It’s now officially a goner.

And guess what? The institutional demand is drying up faster than my will to watch another crypto documentary. The Coinbase Premium is at a nine-month low, and spot ETFs are seeing a steady stream of outflows. How’s that for optimism?

But, wait-before you totally throw in the towel, some people (probably the eternal optimists) are thinking there might be a tiny bit of hope. NovAnalytica suggested that the aggressive taker sell volume could be about to run out. If that’s the case, large buyers might see an opportunity to swoop in. Or, you know, they could just keep waiting for the inevitable plunge.

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2025-11-18 18:29