Bitcoin Plunges, But Is This The Bottom?

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So, Bitcoin‘s open interest has taken a nosedive 🚀😱, because of course it has. I mean, who doesn’t love a good game of crypto roulette? 🤪 The price has been sliding for a month, and now everyone’s scrambling to get out of the way. According to analyst Darkfost, open interest in Bitcoin has dropped by 1.3 million BTC, which is a whole lotta Bitcoin, if you ask me 🤯.

The “sharpest 30-day drop of the cycle” has left investors “reducing risk exposure” 🤔, because who needs risk when you can have guaranteed losses, am I right? 🤷‍♂️ But seriously, this could be a sign that the market is finally cleaning up its act and getting ready for a “renewed bullish trend” 🚀.

“Historically, these cleansing phases have often been essential to forming a solid bottom and setting the stage for a renewed bullish trend. Deleveraging, forced closures of overly optimistic positions and a gradual decline in speculative exposure help rebalance the market.”

Darkfost also noted that the last time Bitcoin open interest fell this quickly, it was during the 2022 bear market 🤯. So, yeah, that’s a great thing to look forward to 🙃.

Bitcoin’s down 20% over the past month, and 30% since it hit that peak of $126,000 in October 📉. But don’t worry, folks, it’s not like it’s going to disappear or anything 🙅‍♂️.

Bull market could return with climb above $90,000

Crypto analyst Michaël Van de Poppe says that if Bitcoin can climb back up to $90,000 to $96,000 and stay there, we might just see a new all-time high 🚀. And by “might just see”, I mean we’ll probably just see a bunch of people losing their shirts 😂.

“Fear and panic are max during the past days. Those are the best opportunities in the markets,” he said 🤓. Yeah, because nothing says “opportunity” like a bunch of people freaking out and selling their assets 😅.

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2025-11-24 09:11