Bitcoin has rallied back to retest the $21,000 resistance.

Still, bitcoin risk signals provided by Glassnode and SwissBlock technologies hit an annual high on September 5th and are still at 87 out of 100 after today's pump.

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The bitcoin risk signal measures the degree of risk of a significant drop in the price of bitcoin. The score varies between 0 and 100.

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Between 0 and 25 is a risky environment and above 25 is a high-risk environment. A reading of 0 indicates a shallow relative risk of a significant decline.

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Historically, bitcoin has led the market in terms of price direction and relative security. However, throughout the week leading up to the merger,

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Ethereum has taken control of the market with the industry following the price of ETH.

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Over the past seven days, Bitcoin has remained at 100 on the Bitcoin risk signal, indicating higher risk and further downside. However, bitcoin fell 7.5% on September 6th,

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while the signal was at its all-time high. Nevertheless, while the score is well above the safety zone of 25, the chart shows that traders act cautiously.

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