I think we’re all looking at the wrong Bitcoin charts right now.. Seriously, everyone is watching BTC price, ETF flows, waiting for the next crash or some big news that could trigger a rally. But I keep coming back to a few things that I think we’re not paying enough attention to. For one, where has everyone gone? Interest in Bitcoin on Google looks incredibly weak. People are bored, retail isn’t nearly as excited as it used to be. But isn’t that interesting in itself? We’ve seen this before..markets don’t always bottom with some dramatic crash. Sometimes people simply lose interest and move on. I’m not saying we’ve hit the bottom, but I do wonder who’s actually buying when nobody seems interested anymore. Then there’s something else that’s been on my mind..AI. Bitcoin miners are increasingly looking at AI data centres because their electricity contracts and infrastructure have suddenly become valuable for something other than mining Bitcoin. Now think about what that means. Some miners could end up making more money supporting AI than mining BTC. What happens to mining economics then? What happens to the miners who can’t compete? And could this change how much Bitcoin miners need to sell? I don’t think we’re talking enough about this. Then we have 30 October..the Bitcoin options expiry! Depending on how dealers are positioned, their hedging could be influencing some of the price movements we’re seeing. Buying dips, selling rallies, potentially keeping Bitcoin within a range. But what happens when those options expire? Does that pressure disappear? Does volatility increase? Or are we expecting another big event that turns out to be nothing? And one more thing.. Everyone keeps comparing Bitcoin with tech stocks. If equities crash, Bitcoin crashes. That’s the assumption. But what interests me is what’s happening within crypto itself. Bitcoin dominance has been relatively strong while so many altcoins continue struggling. Does that mean Bitcoin is becoming a safe haven? Not necessarily. But perhaps investors are becoming far more selective about where they’re willing to put their money. I’m not saying Bitcoin is about to explode or that the bottom is in. I genuinely don’t know. I just think it’s strange that we’re spending so much time staring at 15 minute candles when the bigger changes could be happening in energy markets, AI infrastructure, options positioning and where capital is actually moving. Maybe the real question isn’t where Bitcoin goes next.. Maybe it’s whether we’re even looking at the right things to understand what comes next?