Bitcoin’s vanishing users reveal a warning for BTC at $100K: Analyzing…

• Binance financing rates are falling because short positions increase despite the price stability of bitcoins.
• Activity on the chain weakens, while the metrics of the tip award, which increases correction concerns.

Bitcoin [BTC] 7th July hovering significantly over $ 100,000, but strange divergence appeared – the financing rates have changed negative during upthrough.

This meant that traders aggressively open short positions and betting on conversion.

Naturally, it opens the door to a potential short presses, where forced liquidation increases higher prices. Historically, when the financing rates are immersed, while the price holds tight, the bears tend to burn.

Of course, this is not a guarantee, but the imbalance has leaned out the market structure towards the bulls if the dynamics hold and the shorts will remain crowded.

Why are BTC users disappearing?

After it was said, there were no things across the album.

Bitcoin’s activity on the chain decreased. The number of transactions dropped to 50.3k, while network growth dropped to 57.6 k-most months minimum.

This contraction pointed to participation in decreasing, probably due to a cautious retail sentiment or side users in the middle of increased prices.

When fewer new users are connected and fewer transactions occur, they usually reflect retail caution or fatigue at high prices.

In fact, such a dual decline often prevents local slowdowns – if they reverse quickly. Rally needs more than just strong hands; He needs a new one to join.

Is bitcoins lack of narration exaggerated?

Meanwhile, the ratio of bitcoins to the flow exploded to 458, significantly above the recent averages.

This metric reflects the relationship between the current offer and the annual production and the tip indicates an intensive narrative of a shortage.

This can encourage long -term holders, bUT here is a rub – when a perceived deficiency rises, while the real use of the network decreases, the gap between the story and reality will spread.

Could the Bitcoins appreciation overcome its usefulness?

Another warning bell came from the NVT ratio with circulation, which increased to 1,527 – the highest in more than a year.

This metric evaluates whether the market limit of bitcoins is supported by transaction activity. The rising NVT usually indicates that the valuation surpasses the use, especially if the network activity is weak.

Combined with the decreasing volume of the transaction and the user growth, this increase may indicate that bitcoins are overvalued in its current state.

Although investors can still expect additional profits, historically elevated NVT levels often prevent local peaks.

Are BTC draining masking cooking cooking?

Despite all mixed signals, BTC holders were not in a hurry to sell.

July 7. There was a net outflow of the stock exchange of $ 30.14 million and continued in the long -term trend of coins moving from stock exchanges.

This behavior means a strong belief in investors, and the holders have decided to bind rather than immediate sale.

However, this belief now faces the test because there are contradictory signals between accumulation and weakening of the network strength.

Although the outflows of bitcoins and declining financing rates suggest that bull pipes that reach the chain and surplus awards are increased by red flags.

The potential of short compression remains real, but without renewed transaction growth or network expansion can weaken upwards.

Therefore, despite contemporary optimism, traders must remain careful because the fragility of the chain could quickly move sentiment if the price support failed.