Bitcoin Might Just Go ‘Bananas’ if It Breaks This Level, Says Analyst

Oh, great news folks! Apparently, Bitcoin has been following the glittery trail of Gold, and if you think that doesn’t sound exciting enough, get ready for what comes next! Hold onto your wallets, because things are about to get bumpy… or maybe *bananas*! 🍌💰

Bitcoin Follows Gold Like a Follower on Social Media

So, here’s the scoop from Charles Edwards, founder of Capriole Investments: Bitcoin has been trying to channel its inner Gold. You know, just like that friend who always wants to be *just like you* (but, you know, without the same amount of value). But hey, don’t take his word for it – check out this chart from last year. The analyst posted it, and, trust me, it’s a wild ride.

As you can see, Bitcoin was hanging out around its 2021 all-time high (ATH), doing its thing, while Gold was casually doing its own high in 1980. And guess what? They both seemed to be making the same moves. But don’t get too comfy, Bitcoin… Gold had a big breakout, skyrocketing to new heights – so maybe BTC has a little catching up to do!

But enough about the past, let’s talk about the present, baby! Edwards just dropped a fresh update. Buckle up! 🏎️

Guess what? The breakouts were *soooo* similar! And Bitcoin? Well, it’s still mimicking Gold, but with a twist – it’s like the crazy cousin at Thanksgiving dinner. Bitcoin’s volatility is twice as wild, going up and down like a rollercoaster. 🎢

But don’t pop the champagne just yet, because the latest Bitcoin move has looked a little… underwhelming compared to Gold’s glorious rise. Yikes, right? Things could totally go off-script, or Bitcoin might just decide to be a good copycat. 🤔

Now, here’s where the fun begins: if Bitcoin’s price closes above $110K? Edwards says things are about to go bananas! 🍌💥 So, I guess we’ll have to wait and see if Bitcoin pulls a Houdini and surprises us. Or maybe it’s just going to *pretend* it’s Gold forever… who knows?

And while we’re talking about Bitcoin, guess what? Sentora, the DeFi solutions provider, just dropped a little nugget of info on the Bitcoin supply. Are you ready for this? Apparently, 69.4% of all the Bitcoin out there is held by individual investors. 🍕 Everyone’s favorite number! Meanwhile, ETFs and other funds hold about 6.1%, and businesses hold around 4.4%. And wait for it… 7.5% of Bitcoin has already disappeared! Like magic. Poof! Gone forever, thanks to lost keys. 🗝️

BTC Price: A Roller Coaster of Emotions

As of this very moment (cue dramatic music), Bitcoin is trading around $104,200. But hey, it’s down more than 4% in the last week. So… could Bitcoin be in a bit of a slump? Or is it just taking a nap before the big show? Only time will tell!

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2025-06-03 08:51