London, 2025—The denizens of crypto—unkempt, impoverished, yet somehow flush with digital fortunes—gathered anew with the sort of excitement typically found at bankrupt aristocrats’ fire sales. The cause? Bitcoin, that most capricious of virtual baubles, has clawed its way back to the vaunted $100,000 threshold, having spent a season sulking beneath it. As I write, she teeters at $100,383, up by 3.5% in the past twenty-four hours—an afternoon’s work for old money, but altogether scandalous in crypto.
Of course, the cynics (and certain divorce lawyers) will point out this is still a tidy 8.4% below January’s apogee of $109,000, which all but proves that even cryptocurrencies suffer myriad indignities before expiration. Still, for the hopeful (or hopeless), the prospect of more “upside” remains as irresistible as a free lunch, particularly when someone else is footing the bill.
Binance Traders and Their Glorious Lunge for the FOMO Chalice 🍾
A particularly excitable analyst by the nom de guerre of Crazzyblockk has sounded the clarion: the Taker Buy-Sell Ratio on Binance, sacred scripture to frenetic traders everywhere, has veered bullish. “Smart money radar!” the post trumpets, as though the average Binance user could spell “ratio,” let alone interpret one.
At present, the ratio sits at 1.131, which, for the numerically inclined, means buyers are trouncing sellers with the gusto of Etonians at a village cricket match. Seven-day and 30-day averages lurch upwards as well; the latter, with a 12.1% surge, may be nursing a silent hangover.
Yet, all is not cheery tea and scones—market conditions border delicately on “overbought”, with a z-score of 2.45. Act now, or forever chase the pump, as the old saying nearly goes.
Binance, meanwhile, lords itself as the forum for discovering “sentiment,” though those of us long acquainted with institutional whimsy know better than to trust a crowd that spells “YOLO” without irony. Still, the advice stands: if this mystical Buy-Sell Ratio behaves itself and remains above 1.1, the revelry will continue; should it falter, sober profit-taking and consolidation may ensue, which sounds terribly dull for the degenerate day-trader.
New Bitcoin Whales: Nouveau Riche with Algorithms and a Dream 🐳🍾
Elsewhere in the cryptoverse, another CryptoQuant sage—OnChainSchool by moniker, one can only hope their fees are reasonable—reports a fresh invasion of “new whales.” Wallets holding more than 1,000 BTC and under 155 days old are positively proliferating: a 75.6% rise, for those keeping score, no doubt to the consternation of older crypto gentry clinging desperately to their digital estates.
This scrappy avant-garde has hoovered up 430,000 BTC, while the old whales, like weary dowagers auctioning the family silver, have divested to the tune of 24,000 BTC. Of course, these newcomers shall themselves grow old (155 days passes like a bad weekend in crypto), but for now, their exuberance reassures—and terrifies—the entire market.
Of academic interest, Bitcoin’s “realized cap” now notches yet another all-time high, suggesting confidence levels not seen since the last time someone mortgaged the house for internet coins. The learned @oro_crypto assures us both Long-Term and Short-Term Holders are displaying “growing confidence”—crypto’s answer to stiff upper lip.
Bitcoin Breaks Realized Cap All-Time High for the Third Consecutive Week
“This pattern reflects growing confidence among both Long-Term Holders and Short-Term Holders, who are strengthening their positions as the market shows signs of recovery.” – By @oro_crypto
— CryptoQuant.com (@cryptoquant_com) May 8, 2025
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2025-05-09 12:29