Bitcoin Bulls Dance on a Knife Edge 🚀🐻 Q3 Seasonality May Steal the Show

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Key takeaways:

  • Bitcoin chases $122,000, a glittering trap where $2B short liquidations await—but Q3’s ghostly seasonal trends whisper caution. 🎃

  • RSI droops, ETF outflows weep, and volumes shrivel like a wilted dandelion: bullish momentum’s last breath? 🌬️

  • FOMC minutes and White House crypto musings: Will they be the spark or the dampener? Wednesday’s mystery unfolds! 🔮

Bitcoin (BTC) stumbled below $117,000 on Tuesday, sweeping weekend liquidity like a broom through cobwebs. $100M in longs liquidated—yet the 100-day EMA clings stubbornly, a lifeline for bulls. But what good is a lifeline if the ocean is full of sharks? 🦈

Buy-side liquidity vanishes until $114,500, leaving bulls to tiptoe toward $120,000–$122,000, a stage littered with stop orders. The $121,400–$123,200 supply zone looms—a gilded cage for BTC. And oh, $2B in short liquidations await like vultures at $121,600. 🦅

But let’s not pretend this is a picnic. A double top near all-time highs suggests buyer fatigue, while a failed break above $123,200 would validate bearish whispers. The RSI, now a sad 51.7, and paltry $8.6B in daily volumes scream “exhaustion.” ETF flows? They’ve tanked 80%—institutions are playing coy. 🤭

And yet, futures open interest soars at $45.6B, with longs grinning like fools. 96.9% of supply is in profit—profit-taking is a siren song. August’s history? A 60% red close rate. Seasonality’s a fickle lover. 🤡

But hold your horses! The White House may drop a crypto policy report—Bitcoin Reserve Framework? Delta-neutral strategies? Could it be the sugar-coated pill for spot ETFs? 🍬

And FOMC’s looming. No rate cut? Pfft. But if Powell hints at September cuts, bulls might sprint to $123K—unless they trip on their own greed. The stage is set for a farce… or a tragedy. 🎭

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2025-07-29 23:54