You Won’t Believe Bitcoin’s Latest Move! Is It Game Over or Just Getting Started? 🤔💸

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So here we are, the third week of July, and Bitcoin just decided to hit a new all-time high—$123,000. I mean, come on, it’s like it’s trying to show off or something! A 13% gain in a week? What’s next, a world tour? 🎉

Now, with all this buzz and cash flowing into Bitcoin ETFs, you’d think we’re in for a wild party. Everyone’s giddy with excitement, but wait a second! The on-chain indicators are looking a bit… complicated. You know, like trying to explain the plot of a David Lynch film. What’s really going on here? 🤨

“Prawns” Stay Out as Bitcoin Hits $123K

Now despite all the hoopla, the “Greed Indicator” from CryptoQuant is just sitting there, kind of like that one guy at the party who clearly didn’t get the memo that we’re all trying to dance. It’s hovering around mid-levels. So, all those retail investors? Yeah, they’re still sitting this one out. They’re what we call “prawns.” 🦐 It’s a whole seafood situation over here!

The rHODL ratio is at 32%, which basically means people are playing it safe, not rushing in like it’s Black Friday at the mall. Historically, when retail comes charging in, that’s when the real fun starts. But right now, it’s mostly institutions pulling the strings. Retail? They’re back at home, probably watching Netflix. 📺

However, there might be a glimmer of hope! The rHODL ratio is showing slight signs of life—like a flickering light bulb that might or might not burn out. Could we be on the brink of retail finally coming back? Maybe this could lead to what the pundits are calling “the last dance.” Or is it just another awkward slow dance? Who knows? 🤷‍♂️

Bitcoin Rally Faces No Panic Selling

And here’s a kicker: Bitcoin’s climb hasn’t sparked any mass panic selling. The SOPR data indicates that while some short-term holders are cashing out, the rest of the crew is not scrambling for the exit. We’re not seeing the stampede like it’s a fire drill! 🚪💨

Basically, people are taking their profits without causing a scene. This could mean a nice, solid environment for price discovery. Are we witnessing the calm before the storm or just a boring Tuesday? Stay tuned! 🥱

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2025-07-14 16:22