Oh, look! Bitcoin, the mysterious and mischievous digital coin, took a nosedive to a meager $80,000 on November 21. But wait-don’t grab the popcorn just yet-it’s managed to keep its chin up and stay above that level for a few days now. How thrilling! Could this be the bottom everyone’s been waiting for, or is it just another false alarm in the wild world of crypto?
Is This the End of Bitcoin’s Tragic Fall?
Well, if you ask the ever-optimistic Carmelo Aleman from CryptoQuant, the charts are giving us a little glimmer of hope! According to his analysis, the market’s doing a funny little dance of redistribution, weakness, and a sneaky sign of recovery. Could it be? Is a local bottom peeking through the clouds?
Here’s the drama: the whales-those big, flashy investors holding more than 10,000 BTC-are selling off like it’s Black Friday. Meanwhile, the smaller investors, with anywhere between 1,000 and 10,000 BTC, are doing the same. It’s like a great big game of ‘let’s sell before it goes lower.’
Why, you ask? Well, apparently, institutions are playing the profit-taking game-dumping their BTC to reduce risk exposure. Can you blame them? Meanwhile, the retail investors (you know, the little guys with under 1 BTC) are also running in the same direction, selling instead of scooping up more shiny coins. Yikes!
But hold on to your hats! Not all is doom and gloom. It seems that the mid-sized holders (those holding between 100 to 1,000 BTC) are quietly adding more to their stash. Some of the 10 to 100 BTC crew are also in accumulation mode. How sneaky!
The Mysterious Bullish Divergence
After this wild 11-day sell-off, Bitcoin has pulled off a mini-miracle and managed to jump back above $89,000 on Monday evening. Does this mean it’s found the bottom? Possibly. Is it confirmed? Not quite yet. But don’t be too quick to start singing ‘Hallelujah’ just yet.
Carmelo Aleman, with his crystal ball (aka market data), says the key to the next big move is in the hands of those mid-sized investors. If they keep buying, we might just have ourselves a trend reversal. If not? Well, it’s anybody’s guess.
In the meantime, other sharp-eyed analysts like Ash Crypto are throwing in their two cents. He’s spotted a hidden bullish divergence on the weekly chart-fancy talk for ‘selling pressure is easing,’ and ‘momentum might just be turning around.’ Hooray!
And what happens if this divergence plays out? Well, according to Ash, get ready for a “strong continuation rally,” which sounds absolutely delightful if you’re a Bitcoin believer.
Currently, Bitcoin is hanging out at $87,150, a neat 30% below its all-time high of $126,000. That’s quite the fall from grace! This recent dip has erased all its gains, even for the year, with a nifty 9% drop during that time. Oh, Bitcoin, you unpredictable little rascal.
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2025-11-26 09:12