Bitcoin’s $116K Faceplant: Undervalued Hype or Greedy Sell-Off? 🍿

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Key Takeaways

Why did Bitcoin fumble at the $116k finishing line, like a tortoise tripping over its own feet?

Oh, the weekend’s jolly gallop was meant to charge on, but those pesky short-term BTC hoarders couldn’t resist pocketing their ill-gotten gains, slamming the brakes at a crucial magical barrier that even the gods of finance seemed to have scribbled in invisible ink. 💸😏

What’s this fanciful notion that Bitcoin is undercover among the undervalued dragons?

A wise old cryptomancer peered into the ETF crystal ball and conjured a fair valuation spell, revealing how recent price antics were naught but a heretical dance away from the sacred capital inflow oracles. It’s like expecting a wizard to brew tea without spilling the kettle! 🍵😂

Ah, Bitcoin [BTC], that fickle sorcerer’s apprentice, skyrocketed to a dizzying $116.4k on the 27th of October-quite the hat trick after dragging itself from the $107.5k mud pits the previous Thursday, as if the market was playing a game of cosmic tag. But alas, upon nosing into that short-term resistance lair (a veritable Bermuda Triangle for prices), it was compelled to retreat with its tail between its legs in the last few hours. 🐕🔄

In a dusty scroll of a report, the sages waxed lyrical about the $116k zone being not just a mid-range roadblock, but a magnetic vortex of short-term peril, where prices get sucked in like moths to a flame-operated disco ball. Still, that infernal urge to cash in profits-profit-taking, they call it, though it sounds more like highway robbery-pummeled any hopes of a grand parade past that milestone. 🙄💥

Short-term greed throttles the enchanted ascent

On the ethereal platform of X (once Twitter, before it shed its skin like a snake in a hurry), the vigilant analyst Maartun spotted a veritable exodus of Short-Term Holders (STH) frolicking with profits. Imagine 18.7k BTC sashaying to the exchanges with grins wider than a troll after a feast- profitable exchanges, that is, choking off the bullish glee just shy of piercing the $116k veil. It screamed weakness in the short-term wizards’ faith, promising a whirlwind of volatility that could make even a dragon wince. 🧙‍♂️🌀

This was no mere selling; it was a full-blown pigsty at the fair, highlighting how the short-term conviction was so paper-thin it could double as a napkin for the gods’ curry night. More chaos ahead, I wager! 🚀😆

Is Bitcoin lurking in the shadows, wickedly undervalued?

On the 27th, those U.S. Spot ETFs, the trendy wizards of the investment realm, saw a dainty $149.3 million trickle in. Tiny as a pixie’s pocket, yet it whispered that the short-term mood wasn’t utterly doom-laden-perhaps just mildly paranoid, like a cat eyeing a rocking chair. 🐱🍂

But oh, the mixed signals! The market’s a chaotic tavern brawl: mid-range resistances lurking like bandits, short-term holders flinging profits like confetti at a failed parade, and Open Interest dwindling faster than a wizard’s patience. And yet, these optimistic ETF nibbles persist. Make up your mind, you whimsical beast! 🤷‍♂️💼

What’s the prophecy for thee next adventurers? A whisper that $113.5k might bolster the fort as support, catapulting our digital gold higher-but how long will it loiter near that cursed $116k resistance, like a bard forgetting his lines? And don’t forget $117k, a major supply gauntlet, with liquidation traps hanging overhead like guillotines at a pirate’s tea party. ⚔️🗡️

One thing as clear as a banshee’s wail was Bitcoin’s undervaluation vs. those ETF flows. In another X proclamation, the sagacious Axel Adler Jr fashioned a price incantation from ETF inflows, divining BTC’s “true” worth. At this scribbling, the fair value winked at $128.4k, while BTC dawdled at $114.3k-a shocking 11% below, as if the universe decided to play a prank on the hodlers. Priceless, isn’t it? Or should that be price-less? 🔥📉

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2025-10-28 16:13