Bitcoin dances near $102K after a $1.3B whale’s tantrum. On-chain whispers hint: the bull market is napping, not dead. 🐘
Bitcoin’s golden age teeters on a knife’s edge, as the price clings to $102,000. Traders, like confused sailors, debate if the storm has passed or merely paused. 🌊
Here’s how a 15-year-old titan’s sale and a sleepy market are playing their twisted game. 🎭
Bitcoin Whale’s Sale: A Cry of Despair or Strategy? 🐉
On November 9, a 15-year-old Bitcoin titan (Owen Gunden) dumped 11,000 BTC, worth $1.3B. This dormant vault, silent since pre-2010, now roared like a dragon awakened. The market gasped, and bears cheered. 🐲
Bitcoin OG Owen Gunden seems ready to dump all of his 11K ($1.12B).
8 hours ago, he moved his remaining 3,549 ($361.84M) – with 600 ($61.17M) already deposited to .
– Lookonchain (@lookonchain)
The markets, like startled rabbits, reacted to the sudden flood of liquidity. BTC dipped to $98K, then clung to $104K. 🐇
Analysts, ever the optimists, assure us that while the storm rages, the ship may still sail. 🚢
Technical traders, with eyes squinted like seers, note a descending broadening wedge. A jagged scar on the chart, a sign of impending storm or calm. ⚠️
Some dream of $115K, while others pray for a fleeting rally. 🌈
Did the Market Peak in October? 🧠
Derivatives data shows a decline in leveraged trading. A reset, not a top. Binance’s BTC Leverage Pulse dips to 0.2247, the lowest since mid-October. A sign of weary traders, winding down their risky bets. 🧘♂️
The reduction in leverage, like a calming lullaby, may soothe the markets. Yet, some whisper of a peak in October, a ghost of past cycles. 🕯️
Back in 2023, an anonymous oracle predicted alternating bull markets of 1064 and 364 days. A pattern, or mere coincidence? 🌀
Based on this, the current bear market peaked in October. A tale as old as time. 📜
Whether this repeats? The future is a riddle wrapped in a mystery. But Bitcoin must break $115K to escape its cage. 🔑
On-Chain Metrics: A Glimmer of Hope? 🌟
On-chain analysis reveals Bitcoin’s heart still beats strong. Realised capitalisation rose by $8B, a surge of life. 🩺
The average wallet cost basis now sits at $55.9K. A 93% gain for holders, like a phoenix rising. 🦅
Yet, ETFs and corporate treasuries, once eager buyers, now dawdle. Without their gold, BTC may linger in limbo. 🕳️
Analysts say: not a top, just a pause. A breath before the next dance. 💨
Technical Levels: The Crossroads of Fate 🌌
BTC wavers between $101K and $106K. The $98K zone is a shield, while $103K-$104K is a wall. 🛡️
A fall below $98K could send BTC to $90K. A rise above $103K may ignite a rally to $115K. 🚀
November, the month of chaos, has always been a rollercoaster. Early days, bearish; late days, a gamble. The fourth quarter? A promise of better days. 🎉
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2025-11-10 12:55