Folks, hold onto your hats and glasses! Over the weekend, Bitcoin decided to throw a tantrum, dropping down to a modest $103,000—just a casual stroll, right? 🎩 Meanwhile, it managed a quick recovery, but don’t get too excited—it’s still more than 6% away from its rocket-ship all-time high of $111,814. But wait—there’s more! On-chain data suggests Bitcoin might just *spring back* like a bad rubber band—surprise!
Massive Long Liquidations Could Surprisingly Boost Bitcoin Upwards! 🚀
In a shocking twist, our friend Burak Kesmeci (say that five times fast) reports that Bitcoin saw its third-largest long liquidation of May—$202 million wiped out on Binance faster than you can say “margin call”!). Apparently, traders got overly confident, riding their leveraged wave from $94K to a record-breaking $111K, only to get washed out like last week’s laundry. When these forced sell-offs happen, volatility goes wild—it’s like a carnival ride, but with more crying.
And folks, this wasn’t just a fluke! No, no! This was the third-largest in just a month—$211 million back on May 12, and a whopping $277 million on May 23. It’s like a liquidation marathon—who knew Bitcoin had so much drama? The good news? Maybe it’s time for a little market detox—less leverage, more stability, and a chance for Bitcoin to catch its breath and look fabulous doing it.
Investors Are Cautious: No Euphoria Yet, Just Croissants & Coffee ☕🥐
Meanwhile, Darkfost (sounds like a superhero name, no?) reports that Bitcoin funding rates are still hanging out in the basement—low and cautious. Traders are holding back, waiting for a sign that this bull is actually a real thing and not just a late-night hallucination. Usually, when Bitcoin hits new highs, the funding rates spike like a bad movie scream, but nope—nothing here. Just investors nibbling their croissants, hoping for the best but fearing the worst.
Darkfost said it best: “Investors need more clarity before jumping in with both feet or they’ll land face-first in the dirt.” Wise words, my friend. The market is neither overheated nor on fire—more like a lukewarm cup of coffee. Currently, Bitcoin is sitting pretty at around $104,897, up a tiny 0.2%—just enough to keep us guessing.” 🤷♂️
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2025-06-01 12:59