Sometimes you have to look to the chart with an open mind, and than you see things, nobody likes to see.
Including yourselve.
My main motivation for this chart is:
1. Bitcoin blockchain transactions are in decline (see blockchain info)
2. Bitcoin blockchain adresses in use are still below the 2017/2018 peak.
3. Bitcoin USD sent in blockchain still below the 2017/2018 peak.
4. At the start of all previous bull runs, all 3 above points where above the last peak.