How’s Bitcoin Doing? A Rollercoaster Ride! 🎢
How’s the Price Charting This Week? (spoiler: it’s not charting charm)
Bitcoin is currently hanging out at $111k, after a 9% nosedive in less than a week. Classic Monday-morning-football, but with crypto. 📉
What’s Matt Mena Whispering to Bitcoin?
Matt Mena, 21Shares’ crypto oracle, thinks ETF inflows and “ruinously generous” fiat policy could stop Bitcoin from hitting the floor (literally). Thanks, Matt, for the confidence boost. 🙏
Bitcoin [BTC], after a glorious peak at $126k, is now doing the cha-cha with investor morale. Right now it’s trading at $111,148.07, and has fallen 9.43% in a week-because 2025 is already here, and it brought *doubt*.
Matt Mena’s “Cryptocurrency Will Probably Work Out” Take
Despite this slump and investors clutching their crypto like a third ex via Tinder, Matt Mena (21Shares) thinks Bitcoin’s just taking a breather. He recently declared-and you bet your grandma’s lemonade stand I’m quoting this-
“Structural demand is Bitcoin’s new security blanket, thanks to ETF cash and softer Fed vibes.”
He also added,
“Leverage is gone, rate cuts are coming, and bucks are flowing. Let’s make $150k happen!”
Why Are We Even Talking About This?
Mena’s buzzword parade came after Jerome Powell, the Fed’s bard of boring decisions, hinted at rate cuts. Quote the funhouse mirror: “We might pause the balance sheet nonsense.”
Markets responded with a collective shrug and a sigh of relief. S&P 500 hit $6,650, and Bitcoin avoided another midlife crisis above $110k.
But first, crypto had a $19B de-leveraging party while exchanges had mood swings (*cough* centralized exchanges, *cough*). Decentralized ones stayed chill like Iceland in summer.
Mena’s take? “Let’s call it a post-Black Friday sale purge and call this market setup *sustainable*.”
Globally, the IMF cut growth forecasts to 3.2% (because of course, comma, why even be positive). Meanwhile, U.S.-China relations are as stable as a TikTok duet. Domestically? The government shutdown is basically a Potemkin village now. Markets are just waiting for the Fed to press “pause.”
Bitcoin’s structural demand is *chef’s kiss*, though. Over $6B in ETF cash this month and $300B in assets by year-end. That’s either genius or gambling with grandma’s pearls. 🎲
Bitcoin’s Performance: Because “Resilient” Sounds Better Than “Broken”
Market dominance? 58.7%, baby. Public companies are hoarding 1.02M BTC like it’s Halloween candy at a cannery.
But *please* don’t look at the Crypto Fear & Greed Index (32). It’s like watching your ex’s Instagram: you know it’s not good, but you can’t unsee it. 😳
Techy indicators? Pointing south. The usual suspects-RSI, bear funds-have the floor. But on-chain data says most BTC is still profitable. Short-term hodlers are playing a game of crypto chicken with the bears. 🐔
TL;DR: Bitcoin is like that friend who always has something “profitable” going on, but who never checks their crypto wallet. The next few weeks? Either a rally or the sequel to *Crypto’s Last Chance*. 🚀
Read More
- ETC PREDICTION. ETC cryptocurrency
- GBP CHF PREDICTION
- SKY PREDICTION. SKY cryptocurrency
- AAVE PREDICTION. AAVE cryptocurrency
- USD BGN PREDICTION
- SOL PREDICTION. SOL cryptocurrency
- CNY JPY PREDICTION
- USD INR PREDICTION
- BTC PREDICTION. BTC cryptocurrency
- EUR AUD PREDICTION
2025-10-17 09:17