Bitcoin’s Wild Week: Fakeouts, Highs & Lunar Predictions! 🚀

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Good heavens, what a topsy-turvy week for our friend Bitcoin! It kicked off with a bang, rising lazily from its cozy $103,000 snuggery, only to flirt with danger and leave a trail of broken hearts and marginally richer traders. Honestly, it’s as if the crypto world has the attention span of a gnat on amphetamines. đŸ„Ž

  • BTC strutted up to a cheeky new high near $107,000, only to pull back faster than a shy debutante at her first ball, liquidating scores of emotional traders along the way. Fakeout, or just the first act in the grand opera? You tell me!

  • Meanwhile, the weekly close on May 18 was so grand it squeaked past previous records, making Bitcoin’s highest-ever finish — a real feather in its cap, or perhaps a feather in its cap’s feather. 📈

  • The US trade deals continue to make traders’ knees shake and their knees buckle, adding a dash of macro volatility that makes the market as unpredictable as Aunt Agatha’s mood.

  • Crypto’s dance card with stocks remains a jolly mixed bag—sometimes holding hands, sometimes giving each other the cold shoulder, leaving traders scratching their heads and clutching their crumpet tins.

  • Crypto’s volume delta—the difference between buy and sell orders—is now a key piece of the puzzle if you’re to believe the learned chaps at CryptoQuant. A bit like figuring out if the butler’s really in the pantry or just lurking behind the curtains.

A Liquidity Fandango, Old Sport

Ah, the drama! Bitcoin’s latest antics involved a trip to a multimonth high near $107,000, only to be pulled back post-haste, like a dog called off its supper. The quick tumble of 4% might have made some traders spill their gin, but rest assured, every move in crypto is just a spirited game of “who blinks first.”

CryptoMoon Markets Pro and TradingView displayed the scene like a well-orchestrated pantomime: Bitcoin grabbed liquidity, gulped it down, then spat it out, as if to say, “Is that all you’ve got, chaps?”

The big platter of liquidity was set just above the all-time high, around $107,500, and of course, the market being market, they replenished ask liquidity like an innkeeper refilling tankards at the drop of a hat. Meanwhile, bid liquidity was swept away to $102,000 faster than a waiter clearing empty plates. 💾

Total liquidations in a mere 24 hours clocked up to a hefty $673 million — enough to buy a small island, or at least a decent yacht.

Crypto trader CrypNuevo, ever the cautious soul, warned against jumping into the fray at current levels: “Going long would be as wise as betting on a hen to lay an egg at breakfast,” he quipped. Caution is the watchword, especially when resistance is as sturdy as Aunt Agatha’s family silver.

“From a risk management perspective, I don’t see it worth it to go long right now at market price,” he declared, with the air of a seasoned but slightly cynical bookmaker.

This chap admitted that on the grander timeframe, bullish signals remain like a tune on the gramophone, especially considering the famous 50-week EMA retest — a sort of crypto’s version of dĂ©jĂ  vu that often precedes spectacular fireworks.

There’s talk of $116,000 on the horizon, so keep your monocle ready, old bean.

Bitcoin’s Historical Hug

This particular week saw Bitcoin’s weekly candle close at a jaw-dropping $106,500. Sure, it was as fleeting as a wink, but it set a new record, like a young debutante winning “Best Hat” at the village fĂȘte.

Despite a modest correction of nearly 4%, traders are just tickled pink, seeing this as a sign that the market still has its eyes on the prize — higher, of course, but with a bit of a stumble first. Cheers to that!

Highest weekly close ever for Bitcoin.

The trend is your friend!

— CryptoGoos (@crypto_goos) May 19, 2025

Trader Jelle, ever the optimist, predicted an early dip, but then a big green finish — typical crypto fashion, really. And Chad, a fellow trader, proudly boasted that Bitcoin closed above a key Fibonacci level two weeks in a row — a feat not seen since the invention of sliced bread.

Swissblock’s wise men suggest that the bulls are still in the game — but only if they manage to defend their turf from opportunistic bears. “Support holds — for now,” they say, sounding like the weather forecasters of the crypto realm.

May’s price action is a roller coaster, with gains sitting comfortably in the middle of historic ranges. Hop on, folks; it’s a wild ride till month’s end!

The US and Bitcoin: A Love-Hate Story

This week, macroeconomics takes center stage—think trade wars, rate cuts, and the Federal Reserve’s inscrutable plans. Traders are waiting like children for Santa, hoping for good news but prepared for coal in their stockings.

Trade talks with China caused a short-lived stock rally, but then Moody’s decided to be a spoilsport, downgrading US credit and spoiling everyone’s party just before the first bell. The dollar wobbles, and crypto quietly snickers — it’s got a mind of its own, as ever.

In fact, the clever chaps at The Kobeissi Letter say Bitcoin and its alt cousins are loving this chaos: “Crypto is thriving while the dollar is floundering,” they chirp. The more dizzy the dollar, the brighter Bitcoin’s sparkle. ☀

Meanwhile, the Fed seems to be playing hard to get—interest rate cuts are about as likely as pigs flying. Data suggests they may not be in the mood until at least September, so hold onto your hats.

Jerome Powell’s upcoming speech? Probably as thrilling as watching paint dry, but we’ll listen anyway — just to pass the time.

Crypto and Stocks: A Bumpy Tandem

The recent US credit downgrade stirred the pot, making folks debate whether crypto and stocks are now joined at the hip or simply sharing a quiet affair behind the barn. Santiment suggests they’re ‘somewhat correlated,’ which, translated, means they’re playing hard to get.

Meanwhile, the data from RedStone Oracles hints that over longer periods, Bitcoin and the S&P 500 are more like dance partners, occasionally twirling in harmony, other times stepping on each other’s toes.

One thing’s for certain: traders are getting as frustrated as a cat in a bathtub. “It used to be better when Bitcoin danced alone,” sighed one commentator, “but now, it’s just a weekend matinee of stock futures.”

Ah, the eternal watch—the volume delta. The on-chain numbers are hinting that we might be at a “local market top,” which is just fancy talk for “better exit now or regret it forever.” Binance, that grand old exchange, shows signs of renewed buying activity, but beware: when volumes spike too fast, history suggests a roller coaster is imminent.

Monitoring these figures is like peering through a lorgnette — it reveals whether the dance will go on or if the band’s about to pack up. Investors, stay sharp, and don’t hop on a runaway train without checking the engineer’s credentials.

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2025-05-19 12:33