- Bitcoin has just experienced a rather rude awakening, with billions disappearing faster than a magician’s rabbit.
- Early signs of exhaustion are popping up like daisies in spring, hinting at a potential macro bottom, or at least a very bouncy trampoline.
Ah, the last fortnight has been a bit of a rollercoaster for our dear friend Bitcoin [BTC]. Itâs as if the universe decided to give it a good shake, and not the kind youâd want in a cocktail.
Sell orders poured into the perpetual swap market like a deluge of rain on a poorly planned picnic, triggering a cascade of long liquidations that wiped billions off the board. Open Interest took a nosedive, plummeting over $10 billion from its lofty $80 billion peak. Ouch!
But wait! Signs of exhaustion are starting to surface, like a cat thatâs had enough of being petted. According to AMBCrypto, the puzzle pieces are falling into place for what could be a macro bottom. Or perhaps just a very large puddle.
Does this mean the shakeout was the âresetâ investors have been waiting for, or just a very elaborate prank?
Market Detox in Action: Weak Hands Out, Strong Support In
As AMBCrypto pointed out, the recent political fallout sparked a serious shakeout, with nearly $1 billion in crypto liquidated faster than you can say âfinancial disaster.â
Bitcoin took a hit too, dropping around 10% and bottoming out at $100,421. For many, that looked like a golden entry at a steep discountâlike finding a fiver in an old coat pocket.
True to form, BTC bounced back quicker than a rubber ball, climbing 5.2% in under three days and reclaiming nearly half of what it lost. Sure, this rebound is minor, and itâs still too early to call a definitive âmarket bottom.â But who doesnât love a good comeback story?
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A high Realized Cap means people are still confident, stacking their coins instead of panicking and selling off like itâs a fire sale. This shift in market psychology is key. It shows traders are eyeing BTCâs current price as a sweet spot to load up. Basically, it reinforces a potential bottom that could pay off big down the roadâlike finding a treasure map in your attic.
itâs looking promising!
FOMO: The Market Emotion That Could Launch Bitcoin Higher
Few indicators capture FOMO quite like the Fear and Greed Index. Following the recent political fallout, it tanked to 46, teetering on fear territory before bouncing back to 55 like a cat thatâs just spotted a laser pointer.
Push it a little further, and itâll hit the âgreedâ zone. Historically, this is a classic green light for accumulation rallies where risk appetite heats up and investors start loading up with convictionâlike kids at a candy store.
And itâs not just the old hands getting in. The number of new Bitcoin addresses has turned positive too after a few quiet days, meaning even new buyers are feeling that FOMO kick in. Itâs like watching a new dance craze go viral!
Put it all togetherâtechnical signals and trader psychologyâand a solid macro bottom is shaping up. Itâs like baking a cake: you need the right ingredients, and it looks like we might just have them!
Take the 4th of June: Around 10k BTC vaulted off spot exchanges at $104,700 each, backing AMBCryptoâs thesis. The recent 14-day deleveraging wasnât a meltdown but a âhealthy reset,â clearing weak hands and priming Bitcoin for its next leg up.
At $105k, BTC is sitting on a springboard, ready to launch into the stratosphere. Buckle up, folks! đą
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2025-06-09 04:14