On April 22, something rather curious happened: U.S. spot Bitcoin ETFs gobbled up a whopping $1.5 billion, like a greedy giant munching candy. Glassnode called it “institutional demand,” but you and I might just say, “Wow, that’s a lot of zeros!” This sudden flood tossed Bitcoin just above the mysterious Short-Term Holder (STH) Cost Floor of $92,900 — which is apparently the invisible fence between grumpy bears and happy bulls.🐂🐻
In the frenzy, about 5% of all Bitcoin did a quick shuffle from one pocket to another, and the Percentage of Supply in Profit bolted from 82.7% to 87.3%. Sounds great, right? But wait! Many short-term holders are already clutching their cash, grinning like kids who just sold their lemonade stand. The STH Profit/Loss Ratio hit 1.0 — a sneaky signal that some might be dashing for the exits faster than you can say “bitcoins and gigabytes.”💸🚪
Futures: When Things Get Funky and Shorts May Get Squeezed
Over to the futures market, where things look messier than a chocolate cake at a toddler’s birthday. Open interest jumped 15.6%, but those funding rates decided to throw a tantrum and turned negative. Glassnode’s take? More short positions sneaking in even as prices rise — like wearing rain boots in a desert. This odd dance could cause a short squeeze, where shorts get squeezed so tight they pop like overinflated balloons.🎈😱
“Bitcoin’s leap over the STH cost floor is like a hopeful frog on a lilypad,” the report quipped. “But don’t break out the champagne just yet — it’s hanging on by its webbed toes at a crucial crossroad.”
Read More
- ZEREBRO PREDICTION. ZEREBRO cryptocurrency
- INJ PREDICTION. INJ cryptocurrency
- VANRY PREDICTION. VANRY cryptocurrency
- DOT PREDICTION. DOT cryptocurrency
- Cardano Bulls Unleash Secret Weapon to Spark Price Surge!
- Why Consensus 2025 Could Make or Break Pi Network: The Scoop You Can’t Miss!
- SEI PREDICTION. SEI cryptocurrency
- AXS PREDICTION. AXS cryptocurrency
- BTC PREDICTION. BTC cryptocurrency
- LAT PREDICTION. LAT cryptocurrency
2025-04-25 06:47