From a perpetual futures perspective on Binance, BTCUSDT shows signs of consolidation following a failed breakout attempt above $97,800. The market remains active with significant liquidity, but the fading volume in recent candles suggests reduced momentum. The mark price ($96,709.50) is nearly identical to the last traded price, indicating balanced funding and healthy market alignment.
If bulls can reclaim and sustain price levels above $97,000, a retest of the $97,865 high is possible, with potential upside toward the $98,000 psychological level. However, a breakdown below the $96,283 support or further drop toward the 99-day MA could trigger increased selling.
Overall, sentiment in the BTC perpetual futures market is cautiously neutral, leaning bearish in the short term but still supported structurally in the long term.
