- Bitcoin blushed at $97,800 on the 2nd of May, now languishing at $96,231.22, a comedic slide of 0.88%. Even Icarus fell less stylishly.
- The RSI cackles with bullish intentions, eyeing $107,000 resistance as a cat eyes a canary.
- A pause in tariffs (much like a drunk uncle at a wedding) and ravenous institutions fuel a crypto carnival.
Bitcoin, flustered and breathless, is presently down 0.88% over 24 hoursâtrading at $96,231.22. This comes immediately after a feverish moonwalk to $97,800 on May 2. The worldâs largest cryptocurrency is now staring at the $100,000 barrier the same way Margarita eyed the Grand Ball: with dread, hope, and faint indigestion.
Do you remember the dark and stormy night of early April, when Bitcoin languished at $73,400? From there, just 30% and a few existential crises later, it soared to $97,800 by May 2. Economic uncertainty swirling in the ballroom, trade policies whirling like tipsy waltzersâone might suspect Behemoth himself is holding the market by the tail. On May 1st, as if hearing the click of Azazelloâs pistol, Bitcoin sliced above a crucial pennant. Market data (whispered behind gloved hands) imply an encore of this escapade.
Source â X (not to be confused with the letter that marks Wolandâs spot)
Bitcoinâs RSI, according to the oracles at Glassnode, is prancing around the overbought territory. Should the jubilation persist, $107,000 resistance waits aboveâlike a surly doorman refusing entry to gain-chasing investors. Those enterprising souls who bought the dip are already picking out new yachts and possibly monocles.
Source â X
Meanwhile, the networkâs bacchanal continues: Xâs scribes report 925,914 unique addresses in delirious activity over 24 hours. On-chain transactions rise like champagne bubblesâalways a herald of swelling prices and, possibly, tomorrowâs regrets.
Whatâs Lighting This Crypto Samovar?
Behind every fever, there’s usually a compelling rumor. Bitcoin stands like a battered maestro, conducting its own myth: a safe haven asset squabbling with stocks, shivering at trade policy changes. Blessed be the tariff pause, bestowed by the spectral hand of Trumpâa plot twist worthy of Berliozâs ghost.
Of course, Europe has its own drama. When BlackRockâthe money Koschei of Wall Streetâlaunched a Bitcoin ETP in March, the invitation to institutional investors was sealed with a golden stamp (and perhaps a stick-on beard for regulatory disguise). As regulation molts and blooms, Europeâs elite dive in, clutching their ledgers and umbrellas against the digital rain.
Only 21 million Bitcoins exist, as if Satoshi himself feared the return of the loaves and fishes. Consequently, demand hungrily snaps up supplyâpushing the market cap to a sparkling $3.1 trillion. Not even Pontius Pilate could have predicted this.
Is There a Devil in the Details? đ
Yet, the $100,000 summit loomsâa psychological Everest guarded by technological snow leopards and the inertia of profit taking. Should the masses waver, a domino of âsell ordersâ may tumble down the mountain.
Stateside, new economic numbers arrive as often as Professor Wolandâs prophecies: inflation, jobs, the perennial anxiety. Trumpâs tariffsâever pausing, never deadâlinger in the wings, much like a bureaucrat at the door, ready to crash the party. If inflation should spike, cryptoâs knees might tremble.
Still, let us not forget: from $1 in 2011 to the present, Bitcoinâs climb has resembled a ballad sung by madmen. Adoption grows, fortunes swoop and dive, and somewhere, the devil (or perhaps just a hearty speculator) is grinning in the dark. đŸ
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2025-05-04 06:11