🚨 $BTC is up. But nobody actually bought it.
Price climbed for 6 weeks straight.
BTC
77,722.21
-0.33%
OI dropped for 6 weeks straight.
That's not a bull rally. That's shorts running away.
👇
Here's the difference:
Shorts closing = forced buying = price up, OI down
Real demand = new longs entering = price up, OI UP
We got the first one. Not the second.
What this means right now:
The squeeze fuel is gone. Funding rates are flat to negative. CVD is declining. More sellers than buyers under the surface.
Smart money already took profits at the top.
What comes next needs REAL buyers.
And they haven't shown up yet.