btc finally break 80k again. I entered at 95k and just waited for recovery.
I’ve been digging into some on-chain stuff today and this breakout actually looks… decent? we just absorbed a massive spike in realized profit taking at the 80k mark without a major sell-off. usually, that’s just the older holders cashing out while new money steps in, which helps floor the price since the new buyers aren't as likely to panic sell.
also, that $207m profit print is only a one month high. from what I’ve seen in past cycles, we usually don't see the real top until those realized profits hit the billions.
even the options market looks like it's positioning for a "slow grind up" rather than a massive pump. people are still paying for downside protection (the caution is real), but there’s demand for those cheap call ratios. as long as the U.S. and Iran tensions don’t blow everything up, I’m fine with that.
personally, I’m gonna HODL even when it passes my entry price. I’ve mostly been running a dca bot on bydfi lately to stop myself from overtrading, and I’ll probably switch to a grid bot if things get choppy again.
What’s the sentiment here? You guys think we’re gonna push past that 126k ATH this year?
finally back at 80k… still stuck with my 95k entry though
byu/Alone_Inspection5602 inbtc
Posted by Alone_Inspection5602
2 Comments
Learn how to lose and take the loss.
If that happens, I think it’s the worst case scenario for btc. Because it’d be quite unprecedented in the four year cycle. If it went that high, the stock market has probably also gone up. Inflation is up. It’s bubble territory.
The S&P went up a record amount in a day this month, yet nearly everywhere you look people are struggling.
I think a 125 bitcoin would be a blowoff top and then we’d be facing a very long bear market.
I’d much rather BTC drops from here down to 50 and builds a base. You then DCA rather than worrying about your entry. And wait 2 years and maybe we break 250.
Back to the highs now would allow you to make a small profit.
That said, I guess an alt Theory could be that it does just rocket up to 250 now. But I couldn’t really tell you where that money would come from.