Spot markets are 'frozen like a dog'. Is this the night before a crash, or a long-planned calm?
Bitcoin peaked at $106,000, looking strong, but on-chain data reveals a dangerous signal: spot demand is nearly frozen.
This level of indifference was last seen in—
June 2021: BTC plummeted 56%
September last year: a 33% crash in just a few weeks
Now we stand at the same threshold, but the market hasn't realized it yet.
The question arises:
What is the market waiting for? A global policy storm to land? Or a 'false belief' propped up by ETF inflows?
If there is no substantive capital to take over, those sitting at the table will eventually leave.
None of this is coincidental; low volatility + low demand = a fuse for a targeted explosion.
It's time to look up at the sky and down at the chain.
The real storm never comes when it's lively.
Do you think this is the 'last calm'? Or 'another opportunity to get on board'?
Let's open the comments and discuss this 'silent war'.
