📊 $BTC : Calm Before the Climb?

Bitcoin is holding firm near $105K, and the market structure remains intact. The IBCI is consolidating near the 50% mid-cycle zone — a region historically known for pauses, not tops. 🧭

Despite recent dips, BTC continues to respect its ascending channel since April. RSI sits neutral, and bulls are guarding key support. As long as the trendline holds, higher highs are still on the table. 📈

On-chain signals? 👀

Both NVT and NVM ratios dropped sharply — signs that the market might be undervaluing BTC’s real usage and network growth. This kind of divergence often comes before the next leg up. 🚀

Meanwhile, miners are not selling. MPI is negative, suggesting accumulation is back in play. Combine that with decent liquidity and a cooling stablecoin ratio, and the setup doesn’t scream “top” — it whispers “preparation.” 🔄

If catalysts align and macro remains stable, Bitcoin could be gearing up for its next impulse. Stay sharp. ⚡