Ah, the fickle heart of the investor! Barely weeks ago, they clamored like peasants for bread, driving BTC to the heights of $126,000 and ETH to the brink of $5,000. Yet, in the blink of an eye, their enthusiasm has waned, leaving the markets to ponder the fragility of human resolve. Both spot and derivative markets now bear the scars of this retreat, a testament to the fleeting nature of financial fervor.
Now, who could forget Sam and his deep-pocket tales? He insinuated FTX was secretly a treasure chest, rather than a sad pile of financial ashes that it was. Sam’s claims remind me of an under-loved pet rock. Meanwhile, Binance.US is shaking it off, denying any crypto-repulsive “payback” saga with former prez Donald Trump. Gee, it’s like a trust fall among the entitled, right?
As of November 2, Ethereum was lounging at $3,895-a modest 178% climb from its yearly low, proving that even a dead cat bounces if you throw it hard enough. And lo! A bullish flag pattern emerges, waving optimistically like a drunk fan at a football game. Meanwhile, ETF inflows rise, because nothing says “trust me” like institutional money chasing volatile assets.
Options flows show mild bullish bias through November, but traders remain cautious heading into year-end.
In a Sunday post on X (because nothing says “financial ruin” like a weekend tweet), Sunil spilled the tea ☕, estimating the recovery rate could be anywhere between 9% and 46%. But let’s be real, with Bitcoin (BTC), Ether (ETH), and Solana (SOL) prices doing the cha-cha since 2022, the actual value could be lower than a limbo stick at a crypto party. 🕺
Sentora, in its infinite wisdom, informs us that over two billion dollars worth of Bitcoin have decamped from centralized exchanges this past week. Two billion! It’s enough to make a frugal bureaucrat blush. And to think, mere days ago, the very same crypto world was lamenting a rather undignified tumble. A crash, you say? Such drama! 🎭 It’s all so… predictably unpredictable.
Binance’s founder, Changpeng Zhao, known as CZ, penned a tweet that echoed through the digital plains, “Nigeria also basically kidnapped Tigran Gambaryan, an ex-Binance employee and an ex-US federal agent, for 8 months without cause a year ago,” a statement that rippled through the internet like a stone cast into a still pond. 🤔
The Facts Reveal’d
Enter Ali Martinez, that oracle of resistance and support lines, who-with the solemnity of a man predicting the weather in London-declared:
So, in the land of the USDT pair, Ripple was meandering around $2.50, stubbornly refusing to climb above the holy high-grossing averages-100-day and 200-day, if you must know. After a thrilling journey into the cool embrace of a demand zone, our hero flung itself back with a decent bounce. However, its attempts to scale the lofty $2.60 peak have been as futile as trying to tow a barnacle-encrusted whale with a rubber band.
