#BTCvsMarkets
Bitcoin is between a potential correction and the continuation of the upward trend
The current price of Bitcoin is around $93,368 and it is still moving in an upward channel. RSI (14) is standing at ~65, and a bearish divergence has started to appear, which means that buying momentum has begun to weaken and the opportunity for a sudden profit-taking or correction is likely.
MACD is still above zero and confirms that positive momentum is present, but it needs to be monitored to see if it will continue or not. The daily VWAP shows the price above the daily average. Bollinger Bands indicate that the price is close to the upper limit, suggesting that selling at resistance might happen at any moment.
On-Chain Metrics Data
Around 900,000 addresses interact with the network daily, a large number and a healthy sign of actual usage. The MVRV ratio (realized capital ÷ market) is around 1.35, and levels above 1.3 often precede a correction before continuing the rise.
HODL Waves: 65% of the supply is moving from wallets that have been held for more than a year, indicating long-term conviction among major whales.
Market Derivatives
Open Interest is almost stable around $15 billion, with a slight tendency to increase, indicating that leverage is present but without excessive risk.
The Funding Rate is positive at about 0.01% every 8 hours, meaning that longs are paying a premium to shorts, but this rate is not alarming even if it is a buying indicator.
Implied Volatility Skew shows that the options curve leans slightly towards calls, reflecting a bullish market outlook for the medium term.
General market structure
