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Oh, Bitcoin, you sneaky little devil – hitting new highs like you’ve got a rocket in your pocket, but wait! A fresh report spills the beans: while BTC‘s price is doing the cha-cha up to record territory, the number of active addresses is plummeting faster than Netflix shares after “The Office” reunion. Negative divergence? That’s code for “this party’s about to get awkward,” folks. Talk about a plot twist! ๐
This lukewarm enthusiasm practically begs for a nosedive back to that cozy $120,000 neighborhood. Because nothing says ‘sustainable’ like everyone ditching the ship. ๐ข๐จ
Bitcoin’s Sprinting, But Its Network’s Got Lead Feet – Trouble Brewing?
In this juicy scoop from CryptoQuant’s mystery maven, CryptoOnchain, BTC’s epic leap to a shiny new high of $125,708? Yeah, it’s probably fueled by speculative wildcats and not, you know, actual people caring. Like showing up to a party with glitter cannons while the guests are phantom. ๐ป๐
The sleuthing showed a glaring “negative divergence” – code for price going up while active addresses nosedive on a 14-day average. We’re talking levels not seen since April 2020, which, hey, wasn’t exactly Bitcoin’s glow-up era. ๐
For token TA and market updates: Craving more crypto wisdom? Hit up Editor Harsh Notariyaโs Daily Crypto Newsletter right here – because who doesn’t love unsolicited advice? ๐
On what this fiasco means for our favorite digital gold, the analyst quips:
โTypically, a real price surge hugs a bump in network vibes – hello, fresh users and genuine hype! But if it’s dropping amid the ascent, buckle up: This rally might be all leverage, derivatives drama, and big fishes playing solo, minus the crowd-pleasing spectacle. ๐โ
Translation: Prices soaring, but fewer folks actually swapping coins? That’s your unstable bull run alarm blaring. One bad vibe, and kaboom – sharp pullback city. ๐ฅ๐
Leverage Overload in Bitcoin Futures: When Bets Get Too Bold ๐ฑ
Adding fuel to the fire, BTC futures open interest is spiking like a caffeine-fueled squirrel at a nut convention. Coinglass reports it’s hit a YTD peak of $92.14 billion, up 10% since October 1. High-five to leveraged mania! ๐
Open interest? It’s all those dangling futures contracts begging for closure. Historically, a surge during rallies screams ‘overheated mess’! Too much leverage = minor meltdowns snowballing into major corrections. BTC, buddy, you might just wipe out. ๐
Massive Rally Vibes, But Can $120,000 Even Handle the Clapback? ๐ค
Per CryptoOnchain, this is your flashing “danger zone” sign. No, really:
โIf on-chain buzz doesn’t climb with the price, it’s flimsy support city – increasing the chances of a speedy correction looming large.โ
In other words, if demand keeps ghosting, expect a boomerang to $120,090. Yeehaw? More like yikes. ๐
But hey, if fresh buyers crash the party and jack up participation, poof – BTC could rewrite its high and punch through it. Miracles happen, right? Or we all just wait for the bubble to burst. ๐๐ฌ
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2025-10-06 13:09