Hi everyone,

Those who follow me know I usually like to talk about Bitcoin in a positive way.

But being bullish doesn’t mean ignoring signals.

In the past few days, the price has gone up, yes… but according to some analyses (CryptoQuant), the move may not be as solid as it seems.

In fact, much of the rally appears to have been driven by speculation (futures and leverage), rather than real spot demand.

In short, more “bets” than actual buying.

And historically, that makes movements more fragile in the short term.

Does it mean a crash is coming? No.

But it does mean we could very likely see volatility or corrections.

As I often say, in the short term Bitcoin can be noisy, unstable, and often contradictory.

But in the long term… it’s a different story!

In the short term, leverage dominates.

In the long term, Bitcoin is all about adoption, macro, and liquidity.

And that’s where everything is decided.

Because markets never move in a straight line.

And these are exactly the moments that truly test conviction… and patience.

Thanks for reading my post.