Bitcoin Just Sat Down, Crossed Its Arms, and Dared The Market To Move It

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If you listen closely, you can almost hear Bitcoin sighing and muttering, “Not this dance again…” as it approaches the weekend, eyeing its hilariously unattainable all-time high of $112,000. Spoiler: It remains just out of reach, like the last slice of cake at a dieting convention. Meanwhile, altcoins are having a collective existential crisis and quietly backpedaling into less embarrassing price zones. After a week that resembled a rollercoaster designed by someone with a real vendetta against stomachs, BTC failed to leap over Friday’s mystical resistance line, which has apparently been enchanted by a particularly stubborn wizard. This has left speculators clutching their trading apps and making hopeful noises, but analysts—those brave souls—are sticking to their cautiously optimistic tea leaves. Sure, price action is still above major support, and apparently a strong weekly close could turn the Titanic-sized mood of the market around. Not that optimism ever paid the bills around here.

Enter Daan, top analyst, who’s basically the Gandalf of the crypto realm (minus the beard and the existential dread). Since the big bounce two weeks ago, Coinbase has been serving up a delicious premium, which is usually a sign that US spot buyers—read: suits with very fast internet—have decided to stuff their pockets with Bitcoin. Previously, this premium vanished faster than a free buffet at an investment conference, thanks to geopolitics doing its usual “let’s frighten everyone” routine. Now, it’s back, and so, allegedly, is confidence. Or at least, that’s what the charts whisper in candlelit corners.

Now, the world’s traders are collectively side-eyeing the weekend price action, waiting to see if Bitcoin can vault the $112K hurdle and enter the mythical land of “price discovery”—which sounds suspiciously like a place where accountants go to party. On the other hand, another rejection could mean Bitcoin sulks into a more dramatic consolidation phase, dragging altcoins along and causing much Twitter-based wailing. With the experts insisting “macro narratives” are looking up and on-chain signals no longer waving red flags, the next two days could provide the kind of ‘critical clue’ that resembles Agatha Christie with more spreadsheets.

Bitcoin Range Tightens, Traders Considering Anthropomorphizing Their Charts

Bitcoin now sits in a range so tight it would make a Victorian corset envious—between $103K and $110K, to be precise. The market is quietly tense, like a cat watching a laser pointer, waiting for a break to the upside to launch a thousand yachts (probably not for you), or a break down to remind everyone that hope is, in fact, not a strategy. 🚀 Or 💥. Your choice.

The macros are less apocalyptic than last week; geopolitical panic has retreated somewhat and US fiscal policy is promoting mixed feelings, which is about as clear as anyone ever gets. Still, the grim specters of rising Treasury Yields and unpredictable inflation are lurking around, ready to pounce and remind everyone that nothing in life is certain except volatility and taxes. 💸

Our pal Daan is back to remind us: that juicy Coinbase premium has stuck around since the market recovery kicked in, allegedly powered by US buyers who apparently didn’t get the memo about “buy the dip” being risky. The premium took a brief holiday during the Middle Eastern News Cycle of Doom™, but now it’s back, bolstered by robust ETF inflows—because nothing says confidence like a lot of money moving very quickly in complicated structures even the issuers don’t fully understand.

Of course, as any seasoned crypto survivor knows, caution is the order of the day. If Bitcoin starts doing its “flatline fever” routine at these lofty levels while ETF inflows keep buffing up the stats, watch out for a local top that hits harder than your third cup of coffee. For the moment, bulls are still at the wheel, as long as BTC sits comfortably above $103K. Burst above $110K and it’s “All Aboard the New High Express!” Miss that support, and you might want to practice your “I meant to sell there anyway” face.

BTC Daily Chart: The Chart That Launched a Thousand Hot Takes

So here’s where things get spicy: Bitcoin is trading, like a patient in a waiting room, between $103,600 and $109,300—barely beneath its all-time high, which now feels less like resistance and more like a snarky doorman at an exclusive club. 📈 BTC sits above its glamorous 50-day SMA (Simple Moving Average, not “Sudden Mood Adjustment”), now at $106,469. This line is like a helpful escalator keeping Bitcoin from tumbling into the mall’s bargain basement.

Your friendly daily chart also reveals that $109,300 has put up more resistance than a teenager asked to clean their room. Despite numerous attempts since March, BTC keeps politely knocking without getting inside for tea. Volume during these attacks has been calm to the point of suspicious, like nobody wants to go first in a trust fall exercise. The all-important $103,600 line remains a trampoline—bounces are likely, but if it gives way, prepare for gravity to do its thing.

The 100-day and 200-day SMAs—at $98,544 and $96,364—are gliding upwards with the grace of synchronized swimmers, reinforcing long-term bullish vibes. If Bitcoin finally manages to close above $109,300 with proper fanfare, expect price discovery to break out, and $120,000 could soon be upon us (cue dramatic music). Trip and fall now though, and $100K becomes less of a support and more of a “Was it even real?”

Stay tuned for next week’s episode: “How Much Drama Can One Digital Asset Create?”

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2025-07-05 19:14