Ah, Bitcoin—our modern-day Dostoevskian hero, swinging wildly between tragedy and triumph as the world trembles. Just earlier this week, while distant cannons thundered between Iran and Israel, our beloved BTC collapsed beneath the distinguished sum of $103,000. One could almost hear a faint Russian sigh. Yet, with all the poise of a Chekhov character late for tea, it dusted itself off, nonchalantly reestablishing itself above the $105,000 support, performing a golden cross that would surely have sent Turgenev’s nihilists scrambling for their ledgers. As always, a fresh enthusiasm blossomed among traders, and new long bets were laid—a confidence reminiscent of youth attending their first salon, certain change is afoot. 🤓
Golden Cross Brings Hope (And Maybe Private Islands) for BTC Dreamers
Our dear crypto oracle—Trader Tardigrade—lifted his pen (or rather, his tweet) to proclaim a technical marvel: The 50-day Simple Moving Average had glided elegantly above its plodding 200-day elder, thus achieving the long-anticipated “Golden Cross.” In tales of old, such a dance meant sprigs of cash blossoming from empty soil. The past accords us 49%, 125%, and 68% triumphs after such spectacles. Does this guarantee another? In the words of any Russian grandmother: “Maybe. Maybe not. Have some tea while you wait.” 🍵
If fate and math are inclined, Bitcoin may yet climb gallantly to somewhere between $152,000 and an operatic $229,000, at which point every hodler shall, presumably, compose insufferable memoirs about their wisdom.
#Bitcoin 50 SMA and 200 SMA formed a Golden Cross 🔥This signal has boosted $BTC by 49%, 125%, and 68% since 2023 whenever it has occurred.If $BTC experiences its worst and best gains from this point, it could reach $152k and $229k.These targets are reasonable given the recent…
— Trader Tardigrade (@TATrader_Alan) June 14, 2025
Across the crowded ballroom, a certain Rekt Capital raised his monocle to point out Bitcoin’s recent recoiling act: a rejection down to $110K, from which our protagonist, having cut its losses, rebounded. Notably, this most recent stumble measured a dainty 5.8% against last month’s more dramatic 8%—a sign that perhaps, like a stubborn suitor, resistance grows weaker with each refusal. Shall we soon witness BTC vaulting above $110K, top hat askew, with nary a backward glance? Stay tuned, comrades. 🎩
#BTC
Bitcoin has rejected from the final major Weekly resistance
But how strong will this rejection be?
Rejection from a few weeks ago caused a -8% dip
Thus far, this rejection caused a -5.8% dip
If this dip is shallower -> resistance getting weaker$BTC #Crypto #Bitcoin
— Rekt Capital (@rektcapital) June 13, 2025
Meanwhile, Raoul Pal—philosopher, investor, and possible distant cousin of a Russian tsar—waves away nervous speculators, urging the lot of them to peer instead at the global M2 supply, the true ballet master of this storied stage. If 89% of Bitcoin’s drama is liquidity-driven, then news and noise are simply that: empty whispers, not worth a single kopek. “Enjoy your weekend,” he suggests, like a man resigned to the river’s whims. 🛶
“Keeps trucking along, doing its debasement thing… if 89% of all BTC’s price action is explained by Global Liquidity, then by definition almost all “news” and “narrative” is noise”.
Keeps trucking along, doing its debasement thing… if 89% of all BTC’s price action is explained by Global Liquidity then by definition almost all “news” and “narrative” is noise. Enjoy your weekend…
— Raoul Pal (@RaoulGMI) June 14, 2025
Fearless (or Reckless?) New Long Bets After the Dip
And now, let us cast a knowing look at the traders themselves—those tireless Dostoevskian souls who, following the brief plummet, have leapt with admirable tenacity back onto the Bitcoin steed, taking long positions and reaping modest rewards. (A samovar of tea awaits the survivors.) By contrast, Ethereum traders—a rather more fickle bunch—jump from long to short as if dancing to a balalaika they themselves cannot hear. The air at the crypto ball is thick with both optimism and mild bewilderment. 🕺💃
📊 Bitcoin traders have mostly gone long on prices ever since yesterday’s dip bottomed out, and have been slightly rewarded. Meanwhile, Ethereum traders have shifted from longing to shorting based on whatever the asset’s price has done most recently.
Exchange funding rates are…
— Santiment (@santimentfeed) June 13, 2025
Santiment, the ever-watchful eye in the tower, warns that funding rates swing to terrible extremes, with liquidation events lurking as ever-present specters. And as any Russian novelist might muse, the best moments often materialize when all hope seems lost and everyone is gloomy—so perhaps it is precisely now, in the midst of bearish despair, that fortune smiles. Or maybe not. Pass the vodka. 🍸
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2025-06-15 01:29