#bitcoin

🚨 $BTC Next Move? Watch This Binance Metric! 📊

Bitcoin’s trading near its all-time high ($105K-$110K), but Binance’s perpetual futures are lagging behind spot prices. CryptoQuant notes a negative Spot-Perpetual Price Delta since Dec 2024, signaling spot buyers—not leveraged traders—are driving the rally. 📈

This suggests a healthier, less frothy market with reduced liquidation risks. However, a flip to a positive delta could hint at incoming volatility as leveraged longs pile in. 👀

Meanwhile, Bitfinex Alpha reports bulls remain in control, with Bitcoin defending the $98,220 STH realized price. Institutions via ETFs and retail are absorbing supply, while whales offload 14,000+ BTC since June 30. 🐳

The delta is key—watch for perpetual markets catching up to spot demand for clues on BTC’s next big move! 🚀