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Bitcoin remains strong above $150,000. Interesting, isn't it? But be careful, if it drops below $135,000 it could get ugly. Investors are a bit nervous.
Something strange is happening. The Bitcoin-stablecoin ratio is approaching 1. You don't see this much. The last time was in 2025 when Bitcoin dropped to $110,000 and then bam! it shot up to $165,000. It has only happened three times since the last bear market. Will it be significant now?
But be careful, the market isn't as bad as before. It could be a false alarm. Who knows.
Stablecoin reserves are through the roof, $52 billion. It seems there is a lot of money waiting to come in. Bitcoin is around $152,000, above the short-term realized price of $148,000. That's good, I think.
Other things seem positive:
- General realized price: $75,000
- Realized long-term price: $52,000
- NUPL: 0.58, profits but not crazy
People continue to trust, but they are ready to sell if necessary.
The 50-week moving average is important. Bitcoin has been up since 2024, but it's close. If it drops to $130,000-$135,000 it could be bad.
For now, Bitcoin is doing well. But that strange relationship makes one think:
- If it stays above $148,000, it could be good.
- If it drops below $135,000, it could be the beginning of something bad.
The next few weeks will be key. Buying opportunity or the start of problems? We shall see.