The digital chimera, this ‘Bitcoin’… it struggles, doesn’t it? Like a cornered animal, it flails, and the well-meaning, the hopeful, the investors… they feel the lash. This morning, it surrendered once more, falling to a paltry $85,000. Eighty-five thousand! As if numbers alone could capture the echoing emptiness of shattered expectations. It wasn’t long ago-ten days, a blink in the geological timescale of human folly-that it swaggered above $107,000. So much for ‘hodling’ and charts promising escape from the dreary reality of earthly finance. A cruel mirage, is it not?
And now, the pronouncements. “Bears in control,” they whisper, these analysts, as if market forces are a conscious cabal deciding our fates. Bianco Research, that pillar of objective observation, notes the obvious: the average citizen who entrusted their savings to this volatile phantom is now… diminished. In the red, they call it. Such clinical language for the slow bleed of individual hopes. It is a financial wound, easily concealed, rarely discussed over tea.
The average Spot BTC ETF holder is now in the red.
– Jim Bianco (@biancoresearch) November 20, 2025
Observe the institutional retreat! Even BlackRock’s IBIT, that behemoth of capital, is experiencing a peculiar aversion to this asset. A withdrawal streak, they term it, as if this is a mere change of preference, not a panicked flight from a sinking ship. Three hundred and fifty-five million yesterday, simply…departed. A collective sigh of disillusionment, carried on the digital wind. Nine hundred and three point two million vanished in a single day! A trifling sum, of course, to those who trade in abstract wealth, but a mountain of sorrows for those who believed.
A brief respite, a flicker of hope on Wednesday-a mere $75.4 million inflow-only to be extinguished. The outflows have resumed, building to a truly staggering $1.4552 trillion for the week. Trillion. A number that has lost all meaning, hasn’t it? IBIT, that previously unassailable fortress, now hemorrhaging funds – over a billion gone in four days! JPMorgan’s scholars, with their solemn faces and complicated models, attribute it to the exodus. As if they didn’t already suspect.
And what of the external factors? Japan’s Prime Minister, in a gesture of economic paternalism, unleashed $135 billion to soothe the anxieties of his citizens, and lo! The Bitcoin falters. A curious correlation, wouldn’t you agree? It’s as though people prefer actual currency when faced with the stark realities of existence. Who could have predicted such a thing? 🧐
But perhaps the most telling sign is the action of ‘Owen Gunden’, what they call an ‘OG whale’ – a grandiose title for someone who once amassed a large quantity of a digital nothing. This Gunden, after patiently accumulating, is now… distributing. Selling, actually. A cool $1.3 billion worth since October, culminating in a $230 million transfer to Kraken just yesterday. One imagines Gunden, sipping tea, quietly amused by the unfolding drama. It’s a strange world, isn’t it? Where fortunes are built and lost on the whims of code and the collective delusion of the masses. 🤦
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2025-11-21 10:24