Bitcoin’s Curious Stumble: Are the Greedy Really Tired? 🧐💸

by

In the shadowy corridors of the financial madhouse, Bitcoin has tried to play the hero, only to find itself stuck just above $105,500—like a stubborn mule refusing to climb higher after its glorious leap to $111,814 on May 22. Ah, the thrill of the chase, now replaced by the collective sigh of traders clutching their gains as if guarding the Holy Grail. 🎭

The culprit? A nefarious slowdown caused by traders—those wild jesters—locking in their loot after the frantic ascent, signaling that even the most fervent gamblers get exhausted. Glassnode, that oracle of blockchain mysteries, revealed that on June 3, there was a shocking surge in entity-adjusted realized profit—surging past $500 million per hour thrice in a single day. Can you imagine? Profits dancing like drunk ballerinas, only to be caught and pocketed.

Realized Profit Surge

Entity-adjusted realized profit skyrocketed above $500M/hour three times in 24 hours—proof that nobody likes to share their winnings forever. 💰

— glassnode (@glassnode) June 3, 2025

This particular metric, which sounds more like a complex potion recipe than market insight, measures the actual gains wallets have banked after weeding out internal transfers—like trying to find truth in a carnival maze. Meanwhile, the average Bitcoin has snagged a 16% profit, and fewer than 8% of trading days have been more rewarding. You see? The fish are already out of the pond, and the minnows are contemplating whether to jump back in. 🐟

The recent #Bitcoin ATH breakout has led to a notable uptick in profits locked in, with the average coin capturing a +16% profit.

Fewer than 8% of trading days have been more profitable for investors, suggesting an impending national holiday for profit-takers. 🥳

— glassnode (@glassnode) June 3, 2025

A third glimpse into the crystal ball shows that the momentum—once a roaring beast—has gone into hibernation. By May end, wallets were less enthusiastic about adding more Bitcoin (BTC), the relative strength index dropping down to the 20s—like a shy debutante at her first ball. Meanwhile, profit-taking sentiment rose to 77, hinting that everyone’s looking nervously over their shoulders, wondering whether to sell or hold. 🧐📉

Exchange-traded fund flows have turned gloomy as well—net outflows of over $157 million from May 27 to 30, after six weeks of bikini-inflated inflows exceeding $9 billion. Though a sudden $378 million reversal on June 3 kindled a flicker of hope, the market remains cautious—like a cat walking on a thin wire. 🐈‍⬛

Today, Bitcoin drifts like a lost ghost, barely nudging 0.2% upward, trapped in a narrow corridor between $103,400 and $108,900, as if playing a game of hide-and-seek inside the Bollinger bands. The charts whisper tales of indecision, with the RSI at a neutral 53—neither hot nor cold—while the powerful long-term averages shout bullishly from the rooftops, though momentum and MACD whisper secrets of retreat. 🧙‍♂️

If the brave souls hold their breath and keep above the 30-day average, a leap toward $110,000 remains a possibility, provided the buyers return, bold and voluminous. But beware—the market might need a gentle retreat, a period of austerity before scaling the past peaks of late May, as many have already taken their profits and the signs of euphoria fade into a distant memory. 🚀🎭

Read More

2025-06-04 09:10