BTC’s Disbelief Phase: A Bear’s Worst Nightmare 🐻💥

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In the shadow of October’s tempest-a crash that hurled Bitcoin (BTC) to $102,000 before it clawed back-analysts whisper of a new era: the “disbelief phase.” One might call it the moment when hope and despair duel in the cryptic arena, and the crowd, still nursing wounds from the fall, hesitates to dance again.

A Nation of Skeptics and Their Funding Rates

Darkfost, a prophet of CryptoQuant, proclaims that BTC stirs in the disbelief phase, a limbo where bears cling to their short positions like children to a security blanket. The evidence? Funding rates, those cryptic whispers of the derivatives market, linger slightly negative at -0.004%, a feeble echo of lingering pessimism.

To the uninitiated, this phase is a theater of shadows: a new uptrend flickers, but the masses, scarred by recent corrections, scoff at the idea of resurrection. Yet herein lies the paradox-the very skepticism that fuels the fire of a future rally. Short sellers, unwittingly, build pyres for their own demise.

The recent crash, a tempest worth $19 billion in liquidations, has left traders cowering. They short not out of malice, but survival-a reflex honed by the fickle winds of crypto’s volatile kingdom. And yet, the longer BTC lingers in this phase of disbelief, the more the stage is set for a crescendo.

Should this uptrend root itself, the mountain of short positions will not fall-it will explode. Like a time bomb buried by skeptics, its detonation will send prices skyward, a short squeeze to make even the gods wince.

If the alchemists of chaos succeed, BTC might ascend to $113,000, then $126,000-a pilgrimage through zones where short orders cluster like ants at a picnic. History, too, nods in agreement: September 2024 saw BTC rise from $54,000 to $100,000; April 2025, from $85,000 to $123,000. The script is written, the actors rehearsed.

The Perils of Premature Optimism

Yet let no investor mistake this for a siren’s song. Bitcoin’s activity now languishes below its 365-day average-a warning etched in numbers. Momentum, that fickle muse, may yet vanish. Caution, they say, is the virtue of the unprepared.

And yet, the optimists persist. At press time, BTC clings to $110,814, rising 2.8% in 24 hours-a fragile dawn in a land of perpetual twilight.

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2025-10-21 07:10