Bitcoin’s Wild Ride: $82K or Bust! 🚀💸

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Well now, Bitcoin’s been hoppin’ around like a frog on a hot skillet, currently sittin’ near $84,000 after takin’ a nosedive of 35% from the dizzy heights of $126,000. That’s a drop steeper than Aunt Sally’s staircase after a week of moonshine. 🤠

See, ol’ Bitcoin had a head start in the market cycle, sprintin’ to new all-time highs before the 2024 halving, and Rekt Capital reckoned it was 260 days ahead of schedule. But just like a runaway mule, that lead has now been tamed.

Since the halving, BTC spent over eight months wanderin’ sideways like a cat in a rocking chair. The rejection from old highs, 550 days post-halving, lines up with history. The early sprint is done, and now folks are wonderin’ if this cycle might stretch longer than your uncle’s fishin’ tales. 🎣

Market Cycle Resets After Early Acceleration

Bitcoin shot up faster than a prairie fire with a tailwind before the 2024 halving, leavin’ past cycles eatin’ its dust. That sprint eventually fizzled as the market moseyed along in a narrow range from late 2024 into early 2025.

Curiously, the recent price rejection happened right on schedule with past bull market peaks. Seems the cycle’s back in step, like a church choir finally hittin’ the right note. Rekt Capital pondered:

“What are the chances Bitcoin… managed to reduce the 260-day acceleration completely… to now also potentially lengthen in its cycle considerably?”

Trendline Resistance and Bearish Patterns

Bitcoin’s takin’ a 35% slide now, eclipsin’ the 32% correction from earlier this year. There was a lil’ 13.5% wobble mid-2025 too. This latest tumble comes after repeated failures to break a long-term trendline, which is standin’ firm like a mule that won’t budge. 🐴

To add insult to injury, a death cross appeared-short-term averages crawlin’ under long-term ones. Sometimes it signals a bottom, sometimes it’s just the market givin’ you a black eye, like in 2022.

Daan Crypto Trades called this drop one of the meanest in the cycle. Forty-six days of correction, includin’ that brutal October 10 sell-off that flattened altcoins. And all this while stocks and metals are flyin’ high. Go figure. 😅

$BTC This current correction is now in line with the previous larger drawdowns this cycle.

Each had their own story. But this one is by far hittin’ the market the hardest. Especially considerin’ it saw the massive 10/10 flush that completely destroyed alts.

With that, for most…

– Daan Crypto Trades (@DaanCrypto) November 20, 2025

It sure makes the tumble feel worse, particularly as capital seems to be scootin’ off to traditional markets rather than stickin’ around in crypto.

$82K Emerges as Key Support

On-chain data points to $82,045 as the rock-solid support, says analyst Ali Martinez. Over 825,000 BTC changed hands near this price, holdin’ about 4.84% of supply-enough to make any buyer tip their hat. 🎩

If Bitcoin keeps above $82K, maybe things settle down. But if it breaks, the next safe harbor might be between $60K and $70K, where buyers have historically lined up like ducks at a pond.

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2025-11-21 22:42