BTC’s Death Cross: A Symphony of Sorrow and Sats! đŸȘŠđŸ“‰

by

In a macabre waltz of greed and despair, Bitcoin’s price ascended from the infernal depths of $106,340 to the meager heights of $110,000, as investors clung to hope like ivy to a crumbling wall post-Fed rate drama. A fleeting reprieve, one might say, before the guillotine of gravity claims its due.

  • The death cross, that sinister choreography of moving averages, now graces Bitcoin’s daily chart like a black widow’s embrace.
  • Spot BTC ETFs witnessed a financial exodus of $607m-proof that even the boldest investors have a soft spot for panic.
  • The Fed’s December rate-cut hopes now dance at 66%, a tragicomedy of central banking hubris. 😂

Behold, dear reader, the death cross-a celestial omen where the 50-day and 200-day Weighted Moving Averages conspire to plunge Bitcoin from its lofty perch of $126,172 (September’s delusion) to the bleak reality of $119,340. A masterpiece of bearish artistry, if you will.

Technical analysts, those modern-day oracles, whisper of further carnage. The Supertrend indicator, once Bitcoin’s guardian angel, now betrays it. Even the Murrey Math Lines pivot point yawns in disinterest. And lo! The Average Directional Index and True Strength Index-a duo of doomsayers-point downward like judges at a failed circus act. đŸŽȘ

Should Bitcoin breach the support at $106,342, the descent to $100,000 looms, a psychological abyss where even the bravest hodlers weep into their coffee mugs. ☕😭

Meanwhile, the spot BTC ETFs, once gilded with $61bn in inflows, now hemorrhage $607m-a financial exodus staged post-Fed’s “surprise” rate cut. The markets? They danced the waltz of despair, as Polymarket’s odds for December relief plummeted from 90% to 66%. A cosmic joke, perhaps, served with a side of lemon and existential dread. 🍋

Read More

2025-11-02 21:47