Bitcoin Bounces to $62K, but Its On-chain Signals Are Conflicting
Bitcoin’s long-term, on-chain picture still looks like an accumulation environment with little selling pressure. The short-term, derivatives picture shows traders rebuilding leverage and some whales starting to distribute. The result is a market whose foundation looks healthy while its near-term volatility risk quietly rises. Bitcoin’s signals are split: on-chain looks constructive, derivatives are getting speculative. [...]