Every move up is preceded by a few ants dumping.
The way I look at Bitcoin, it's dropping most of the time. If I'd have accurate historic data I'd do the math, but if I'd have to take a guess, it feels like it's dropping 90% of the time. But when it goes up, it goes up much faster than it went down.
Visualized:
down down down down down down down down down
UP down down down down down down down down down
UP down down down down down down ............
I would have bet the same, but I did a little data vibe coding with Cursor, and the results were unexpected.
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Statistical Summary Since 2012-01-01
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Total trading days analyzed: 4993
Average daily change: 0.26%
Median daily change: 0.17%
Largest gain: 33.75%
Largest loss: -39.12%
Standard deviation: 3.53%
Days with gains: 2702 (54.1%)
Days with losses: 2277 (45.6%)
Days unchanged: 14 (0.3%)

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Summary by Change Category
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Up 10%+ : 57 days ( 1.1%)
Up 7-10% : 99 days ( 2.0%)
Up 5-7% : 147 days ( 2.9%)
Up 3-5% : 404 days ( 8.1%)
Up 2-3% : 362 days ( 7.3%)
Up 1-2% : 597 days ( 12.0%)
Up 0-1% : 1050 days ( 21.0%)
Down 0-1% : 959 days ( 19.2%)
Down 1-2% : 527 days ( 10.6%)
Down 2-3% : 273 days ( 5.5%)
Down 3-5% : 288 days ( 5.8%)
Down 5-7% : 110 days ( 2.2%)
Down 7-10% : 75 days ( 1.5%)
Down 10%+ : 45 days ( 0.9%)
So I decided to try to cherry pick some data that would fit our expectation
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Statistical Summary Since 2018-01-01
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Total trading days analyzed: 2801
Average daily change: 0.12%
Median daily change: 0.07%
Largest gain: 16.25%
Largest loss: -21.08%
Standard deviation: 2.90%
Days with gains: 1466 (52.3%)
Days with losses: 1335 (47.7%)
Days unchanged: 0 (0.0%)
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Summary by Change Category
============================================================
Up 10%+ : 14 days ( 0.5%)
Up 7-10% : 43 days ( 1.5%)
Up 5-7% : 62 days ( 2.2%)
Up 3-5% : 216 days ( 7.7%)
Up 2-3% : 197 days ( 7.0%)
Up 1-2% : 353 days ( 12.6%)
Up 0-1% : 581 days ( 20.7%)
Down 0-1% : 555 days ( 19.8%)
Down 1-2% : 330 days ( 11.8%)
Down 2-3% : 173 days ( 6.2%)
Down 3-5% : 174 days ( 6.2%)
Down 5-7% : 51 days ( 1.8%)
Down 7-10% : 38 days ( 1.4%)
Down 10%+ : 14 days ( 0.5%)
But nope, each time there appears to be more up than down days.
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Statistical Summary Since 2020-01-01
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Total trading days analyzed: 2071
Average daily change: 0.17%
Median daily change: 0.12%
Largest gain: 12.29%
Largest loss: -21.08%
Standard deviation: 2.70%
Days with gains: 1104 (53.3%)
Days with losses: 967 (46.7%)
Days unchanged: 0 (0.0%)
============================================================
Summary by Change Category
============================================================
Up 10%+ : 6 days ( 0.3%)
Up 7-10% : 30 days ( 1.4%)
Up 5-7% : 42 days ( 2.0%)
Up 3-5% : 152 days ( 7.3%)
Up 2-3% : 160 days ( 7.7%)
Up 1-2% : 266 days ( 12.8%)
Up 0-1% : 448 days ( 21.6%)
Down 0-1% : 416 days ( 20.1%)
Down 1-2% : 250 days ( 12.1%)
Down 2-3% : 126 days ( 6.1%)
Down 3-5% : 120 days ( 5.8%)
Down 5-7% : 28 days ( 1.4%)
Down 7-10% : 19 days ( 0.9%)
Down 10%+ : 8 days ( 0.4%)
The hourly or minute data could show otherwise.
Keep stacking. Price data updated here
https://pastebin.com/3C67XqKW, from Bitstamp data.
https://pastebin.com/3C67XqKW