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Bitcoin (BTC) remains in an ‘Acceleration Phase’ with strong on-chain metrics, yet derivatives activity is capping its upward momentum. Despite 99% of addresses being in profit, price action has been restrained due to bearish positioning in the derivatives market. Meanwhile, Bitcoin’s volatility has hit a record low compared to gold.
- Bitcoin’s 'Acceleration Phase' suggests potential for a breakout, but derivatives activity is suppressing upward momentum.
- CryptoQuant data shows negative net taker volume, indicating traders are betting against further price increases.
- Bitcoin’s 30-day volatility has fallen below gold’s for the first time, hinting at a possible large directional move ahead.
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