Wow... I just found out you can really compress it. I had no idea you could use variables like this! But I tried and, turns out you can...
{
(set:$cursor to "|cursor>[>]](click:?page)+(transition:\"dissolve\")[(replace:?cursor)[]")
(enchant:?cursor, (text-style:"bold") + (text-colour:"#4169E1"))
}[Bunch of text bunch of text bunch of text bunch of text bunch of text bunch of text bunch of text bunch of text
$cursor{
}Bunch of text bunch of text bunch of text bunch of text bunch of text bunch of text bunch of text bunch of tex
$cursor{
}Bunch of text bunch of text bunch of text bunch of text bunch of text bunch of text bunch of text bunch of text
$cursor{
}Bunch of text bunch of text bunch of text bunch of text bunch of text bunch of text bunch of text bunch of text]