Bitcoin Bulls Roast Bears: $105K Drama! 🚀

News from the crypto front: after an absolutely nonchalant leap over the ramparts at $90K and $100K, Bitcoin, that incorrigible social climber, finds itself in an exquisitely vulgar tug-of-war. Bulls and bears, those eternal party-crashers, are jostling for fleeting glory at the summit. How dreadfully modern.

Enthusiasm, previously suffering from a touch of ennui, returned in a burst, only to find our friend Bitcoin awkwardly wedged at $105,000. Now, it languishes like an ambivalent debutante between $100K and $101K—supported by hopeful dip-buyers and perhaps a few rogue optimists with questionable taste in risk. Will Bitcoin regroup for a further ascent? Or has it merely paused to catch its breath (and count its blessings)?

In the smoking room, analysts leaf through CryptoQuant data with the bored precision of Oxford dons at a particularly uninspired essay reading. Short-term holders, who previously had the grace of napping spaniels, leapt perkily into profit as Bitcoin trotted above $99K on May 8th. The STH Spent Output Profit Ratio (SOPR, for those amassing acronyms like cufflinks) has remained firmly above 1—a clear signal that our short-term friends are selling with the sort of confidence usually reserved for minor aristocrats at Christie’s.

There’s a catch, of course—there always is. Should that SOPR metric approach 1.03, profit-taking may become a veritable stampede. Still, the participants remain decorous for now, nibbling rather than feasting; no unseemly panic detected, unless you count the existential kind inherent in all of crypto.

CryptoQuant’s own oracle, the elusive Darkfost, assures us the market is “just getting warmed up,” which is exactly the sort of thing one says at Ascot before the horses do something unspeakable on the turf. Further advances may await, provided Bitcoin keeps its composure between tea and the next round of speculation.

💫 Since May 8th, STH have finally moved back into profit territory as Bitcoin crossed above $99,000.
Their SOPR (Spent Output Profit Ratio) has been above 1 since that date, indicating they have reacquainted themselves with profit.
💡— One must never underestimate the guile of the short-term holder…
— Darkfost (@Darkfost_Coc)

Elsewhere, the altcoin bazaar is gaining a whiff of relevance, and Bitcoin’s next capricious move may well dictate the mood of the entire cryptoverse—heaven help us all. Place your bets, dust off your monocles, and try not to spill any tea on the ledger. 🫖🤑

2025-05-15 11:20

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