Bitcoin: Still Expensive! 🤷‍♂️

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So, Bitcoin is currently wobbling around the $90,000 mark. Apparently, some things Jerome Powell said caused a bit of a kerfuffle, injecting some much-needed (not!) uncertainty into a market already teetering on the edge. Honestly, you’d think people would be used to Powell by now. It’s like he wants to unsettle things. 🙄

Bitcoin, predictably, had a little existential crisis and dipped. Thankfully, it found a safety net around $90K. It wasn’t a complete disaster, thankfully, but it did highlight how utterly reliant this whole enterprise is on what moody central bankers happen to say.

Now, some clever people at Darkfost have been peering at the “on-chain data” – which sounds very futuristic, doesn’t it? – and they’ve discovered that demand isn’t exactly… robust. It’s not a full-blown panic, which is good, but it’s not exactly a stampede to buy either. It’s more like a polite, slightly hesitant shuffle.

They’ve got this whole system for comparing new Bitcoins being created with old Bitcoins that have been left to gather digital dust for over a year. It’s all about ‘apparent demand’, whatever that means. Basically, if more old Bitcoins are being sold than new ones are being bought, things aren’t looking too peachy. Sounds… intuitively obvious, doesn’t it? 🤔

Right now, the ‘apparent demand’ indicator is quite glum. Nobody’s rushing in to fill their boots. They are exhibiting a moderate level of “meh”. It’s like everyone is waiting for someone else to make the first move, which, as anyone who’s ever been to a school dance knows, is rarely a recipe for excitement.

Demand Weakness Signals Caution, Not Capitulation

Currently, Bitcoin’s ‘apparent demand’ is about as enthusiastic as a sloth on a Monday. Around −106,000 BTC on a 30-day basis, apparently. This means people are offloading more coins than are being snapped up. It’s not a fire sale, just… careful selling. Investors are being all sensible and cautious, like adults. It’s disturbing. 🤨

There’s no sign of everyone suddenly deciding to sell everything in a panic, thankfully. Just a slow, steady trickle of Bitcoins changing hands. People are waiting for a definitive sign – from the economy, the price charts, or the digital gods – before risking their money.

Now here’s a time-honored truth: when things are quiet and boring, that’s often when opportunities start to appear. When nobody wants anything, you can sometimes pick it up for a bargain. But it’s a game for the patient, not the get-rich-quick brigade. Seriously, if you’re looking to make a killing overnight, I suggest a very high-stakes game of bingo.

Don’t go trying to bet against the current trend. If nobody wants it, it’s likely to stay unwanted for a bit. For now, Bitcoin’s in a bit of a holding pattern, requiring restraint, not reckless abandon.

Bitcoin Consolidates as Long-Term Support Holds

Bitcoin’s still bobbing around after its tumble from October, settling somewhere around $90,500- $91,000. The charts are full of lines and averages which, frankly, look like a cat walked across a keyboard. The short-term averages show that things are still a bit wobbly. 📉

However, there’s a longer-term average that’s holding strong, somewhere around $88,000-$89,000. This seems to be stopping things from falling apart completely. It’s the digital equivalent of a safety net woven from hope and algorithms.

Things are generally calmer now – lower volatility, less frantic trading. It suggests the initial panic has subsided, but nobody is exactly rushing to buy either. Everyone is just sort of… watching. Like a very expensive, slightly awkward standoff.

As long as Bitcoin stays above that long-term average, things aren’t looking disastrous. But it needs to break through that $94,000-$96,000 barrier to get things moving again. Until then, it’s stuck in neutral, quietly gathering strength for the next act of this unbelievably complex, utterly bewildering saga. 😅

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2026-01-13 04:15