🚨 BTC’s Fate: Will it Take the Plunge? 🤔

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Oh dear fellow, it appears Bitcoin has been stuck in a bit of a pickle, wobbling about between $84,000 and $86,000 for weeks on end. One can’t help but think of a chap who’s lost his bearings at a particularly perplexing garden party. Initially, there was a spot of excitement, a surge in price, if you will. Alas, the cryptocurrency has since faced a decline of 3.7% over the past week and a whopping 10% over the past month. It’s all a bit…stagnant, old bean.

As I pen this, Bitcoin is priced at a rather precise $84,263, leaving one to ponder the future trajectory of this confounded asset. Investors, it seems, are in a state of suspended animation, awaiting a clear direction – rather like a group of chaps waiting for the tea to arrive at a particularly slow-moving social gathering.

The Dead Cross: A Harbinger of Doom for BTC‘s Price? 🚫

Enter BilalHuseynov, a clever chap from CryptoQuant’s QuickTake Platform, who’s shed some light on Bitcoin’s market shenanigans in his post, “Will Bitcoin Drop Anymore?” (One does hope the title isn’t a self-fulfilling prophecy, wot?)

Huseynov’s analysis revolves around the intriguing dance between Realized Cap and Thermo Cap. It’s all a bit technical, but imagine Realized Cap as the total value of Bitcoin’s last fancy dress party (i.e., its last movement price), while Thermo Cap represents the total capital introduced into the BTC network through mining – a bit like the catering bill for the aforementioned party.

Now, when Thermo Cap crosses below Realized Cap – a “Dead Cross,” if you will – it’s a bit like the party’s over, and the hosts might be in for a spot of financial trouble. Huseynov warns that if this “Dead Cross” materializes once more, BTC’s price could plummet to a rather alarming $75,000.

Is the Bitcoin Market Condition Still in the Pink? 🤕

Luckily, another CryptoQuant analyst, Banker (a chap who presumably understands the intricacies of, well, banking), has provided some reassurance via the Coin Days Destroyed (CDD) metric. This fancy tool tracks the movement of long-dormant BTC – think of it as the Bitcoin equivalent of your great-aunt’s dusty old attic.

Since March 2025, the CDD 60-day moving average has remained decidedly low, indicating that long-term holders aren’t selling their Bitcoin in large quantities. One might say they’re exhibiting the patience of saints, or at the very least, the confidence of a chap who’s invested in a reliable umbrella manufacturer.

This development, coupled with reports of short-term holders showing reduced selling pressure after their initial profit-taking, suggests the market might just be experiencing a spot of consolidation – or perhaps, a gentle upward momentum, if one is feeling particularly optimistic.

Decrease in selling pressure by 1-3 month holders

“These holders appear to show reduced activity in the market after taking profits from their short-term trades.” – By @CryptoOnchain

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— CryptoQuant.com (@cryptoquant_com) April 1, 2025

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2025-04-03 06:42