Bitcoin’s Playing Hard to Get – Will It Ever Commit? 🚀💰

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Bitcoin (BTC) is doing that thing where it pretends to be chill in November, hovering around $110,350 like it’s not the dramatic diva we all know it is. The charts are still whispering sweet nothings about a potential reversal, but let’s be real – Bitcoin’s commitment issues are showing.

Despite all the flirty technical patterns, BTC refuses to put a ring on this breakout. On-chain data is basically the couples therapist explaining why this relationship isn’t moving to the next level.

Cost Basis Heatmap: Bitcoin’s Emotional Baggage

Bitcoin’s cost basis heatmap – which is basically its dating history written in blockchain – shows why it keeps ghosting at current levels.

Between $110,000 and $112,500, there’s a whole neighborhood of exes where about 434,000 BTC had their hearts broken. These emotional walls act like resistance because nobody wants to relive their crypto trauma.

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The heatmap is basically Bitcoin’s Facebook relationship status – it shows where things got serious and where things got messy.

This particular emotional baggage between $110,000 and $112,500 has been cockblocking BTC’s rally attempts for a week. In technical terms – which is just astrology for finance bros – this level also aligns with some important squiggly lines, making everyone extra nervous.

Until Bitcoin mans up and closes above $112,500, we’re stuck in this weird “will they/won’t they” phase of crypto rom-com.

Whales: The Rich Aunts Trying to Set Bitcoin Up

Enter the whales – Bitcoin’s rich aunts who keep saying “you two would be perfect together!” while shoving more money into the relationship.

On-chain data shows wallets holding between 1,000 and 10,000 BTC are back on Bumble after taking a break since August. The 30-day whale address count change has gone positive (+6) for the first time since pumpkin spice season began.

The total number of whale addresses hit a three-month low on October 27 (probably after watching too much true crime) but has been creeping back up like an ex who suddenly remembers your birthday.

This increase shows whales are getting that FOMO feeling again, which usually happens right before Bitcoin does something dramatic while claiming “it’s not a phase, mom!”

BTC Price Chart: All Dressed Up With Nowhere to Go

Technically, Bitcoin is still wearing its inverse head and shoulders outfit – which sounds like a yoga pose but is actually a fancy chart pattern. A daily close above $116,400 would be like finally getting that second date, with potential meet-the-parents targets at $122,000, $125,900, and “let’s move in together” at $130,800.

The Relative Strength Index (RSI) – Bitcoin’s emotional support animal – shows a bullish divergence. Between October 22 and 30, Bitcoin’s price was sulking while RSI was secretly swiping right. This is the crypto equivalent of “he’s just not that into you” suddenly turning into “so… you up?”

Please note that $112,590 is Bitcoin’s emotional defense mechanism. This level validates all our theories about why this situationship isn’t progressing. For BTC, this $112,500-$112,590 zone is basically the “we need to talk” of price levels.

However, if Bitcoin breaks below $106,200, we might need to start binge-eating ice cream. A drop under $103,500 would be the equivalent of changing our relationship status to “single” and deleting all the couple photos.

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2025-11-02 12:48