Bitcoin’s Next Move: Bull or Bear?
Ah, the eternal conundrum of the crypto enthusiast: is Bitcoin poised to soar to dizzying heights or plummet to abysmal depths? 🤔 As the price oscillates with all the predictability of a Russian winter, the pundits are scratching their heads, wondering if the bull run has finally exhausted itself. 🐂
But fear not, dear reader, for the indefatigable crypto trader Mags has some reassuring words. According to his analysis, Bitcoin may be merely pausing for breath before embarking on another majestic rally. 🚀
A Glimmer of Hope: The 50-WMA
In a recent tweet, Mags pointed out that Bitcoin’s 50-week moving average (50 WMA) has long served as a trusty support level. Whenever the price has threatened to dip below this line, it has invariably bounced back with renewed vigor. 🌟
Mags’ chart is replete with historical “BUY” signals, each one a testament to the 50 WMA’s remarkable ability to buoy the price. The sole “SELL” signal, which occurred in early 2022, only serves to underscore the moving average’s reliability. 💯
#Bitcoin – Bear market incoming?
A lot of people think Bitcoin is heading into a bear market.
The easiest way to check? Look at the 50 Weekly Moving Average.
If you notice, the 50-week MA has been a strong support over the years. Every time Bitcoin dips to this 50 WMA , it…
— Mags (@thescalpingpro) July 9, 2025
If history is any guide, Bitcoin may soon shatter the $112,000 barrier and make a beeline for $130,000 or more. 🚀 The prospect is nothing short of intoxicating.
Institutional Investors: The Cavalry to the Rescue?
Further evidence of Bitcoin’s potential for growth comes in the form of some intriguing on-chain activity. Crypto analyst Maartunn has observed a series of large-scale transactions, which saw over 19,400 BTC (worth a staggering $2.11 billion) being transferred from dormant wallets to institutional-grade addresses. 💸 These coins had lain undisturbed for three to seven years, like so many sleeping beauties waiting to be awakened.
Institutional Accumulation Incoming?
Three large transactions hit the chain this morning, moving dormant coins into likely institutional wallets:
• Tx 1
3y–5y: 8,002 BTC• Tx 2
3y–5y: 2,438 BTC
5y–7y: 6,000 BTC• Tx 3
5y–7y: 3,002 BTCIn…
— Maartunn (@JA_Maartun) July 8, 2025
While such moves can often be a prelude to strategic selling, they also suggest that large investors may be poised to swoop in and buy while the price remains steady. 🤑 The plot thickens.
A Note of Caution: Short-Term Pressure
But before we get carried away with visions of Bitcoin’s impending moonshot, let us not forget that the Cumulative Volume Delta (CVD) remains negative, according to CryptoQuant data. This indicates ongoing short-selling by takers, a clear sign that some traders are betting against a breakout, at least for the time being. 📉 Ah, the eternal tug-of-war between bulls and bears.
Read More
- Vampire’s Fall 2 redeem codes and how to use them (June 2025)
- GEN vs AL was another extremely close LoL match at MSI 2025
- T1 has a difficult match vs CFO, still advance to the semis of LoL MSI 2025
- Cookie Run: Kingdom Marshmallow Bunny Cookie Guide: How to unlock, Best Toppings, and more
- Does Jurassic World Rebirth have a post-credit scene?
- LCP teams, CFO and GAM, bring the underdog power to MSI 2025
- Scarlett Johansson becomes highest-grossing lead actor EVER after Jurassic Park Rebirth opens with $318M
- JOOPITER’s sacai x SEVENTEEN Auction Sets Record for Highest-Selling LABUBU
- WEBZEN’s MU: Pocket Knights offers a cute spin on the legendary MU series, set to launch in the second half of 2025
- Blackpink LISA is the new PlayStation ambassador
2025-07-09 15:18