Here is the reason that the Bitcoin network appears to be the ghost city despite the recovery of $ 110,000

Bitcoin $ 110,000 rose on June 11, in an important landmark that sparked upward feelings through the encryption market. The latest increase in the market participants have pushed to predict that the leading cryptocurrency can be on the right path to push towards its highest levels ever in the coming weeks.

However, the data tells a different story.

The indifference in the chain and the size of a low spot

Bitcoin network looks like a “ghost town”, according to the latest analysis From Cryptoquant, which highlighted a significant decrease in market activity in the chain and immediate. The analysis platform on the series stated that the Bitcoin network activity index has decreased to only 3.47 thousand, which is one of the lowest levels seen in the past 18 months.

The demand for retail has also been a great success as the chain transactions include less than $ 10,000, which are often used to measure retail sharing, has decreased by more than 5 %.

Meanwhile, the immediate trading volume on the central stock exchanges decreased to the lowest level of 4.5 years, to the last time seen in October 2020. Cryptoquant also stated that the real bitcoin barely moving, whether in the series or through the stock exchanges, even with the relatively continued request of ETF.

Despite this recession in visual activity, a total of 847200 BTC has moved to a long -term standing supply, indicating that metal currencies are held instead of circulating. These holdings remained without touching them for more than 155 days, which enumerated similar accumulation patterns seen in late 2024.

Ethereum futures heated

While the bitcoin spot and standards on the chain remain silent, the derivative market tells a different story, especially for Ethereum. Open interest on futures platforms increased to 7.17 million from ETH, and retail frequency on future contracts also increased from one general average.

This reflects an increased transformation of the investor’s attention from immediate markets to future contracts, especially among retail participants. While the surface -level data shows stagnant and quiet bitcoin network, the deepest measures reveal a market for waiting, with a long -term condemnation between holders and the height of speculative energy in derivative markets.

Currently, Bitcoin might feel escaping, but Cryptoquant hints may be calm before a big step – silent accumulation before the fluctuation returns.