GEMINI

Still Extreme Fear 👀

Profit taking activity from short term #Bitcoin holders has increased as the market rebounds. Over the past 24 hours, more than 27,000 BTC have been transferred to exchanges while in profit, marking one of the highest levels of such activity in recent months. Many short term investors are choosing to secure gains following the recent price recovery.

Large inflows of profitable #BTC to exchanges often indicate that holders may be preparing to sell, which can create additional selling pressure in the market. While this may slow the pace of further upside in the near term, profit taking during a recovery phase is a common pattern as traders capitalize on recent gains.

Despite #Bitcoin’s slight recovery, Short Term Holders still don’t seem confident in the market and are choosing to take profits quickly. Over the past 24 hours, more than 27,000 BTC in profit has been sent to exchanges by STHs, which is one of the highest levels seen in recent months. Currently, the only STHs able to realize profits are those who bought Bitcoin between one week and one month ago, with an average realized price of around $68,000.

Short Term Holders are usually very reactive and often influenced by short term news and market sentiment. With the current macroeconomic outlook still looking somewhat negative in the short term, many of them prefer to secure profits rather than hold their positions longer, creating some selling pressure in the market right now

Even with the recent rally, #Bitcoin is still trading within a bear market. The Bull Score Index currently stands at only 10 out of 100, keeping the overall outlook strongly bearish. The latest price increase is likely just a temporary relief bounce, not the beginning of a new bull cycle.

Still Extreme Fear 👀

#Bitcoin Spot ETF flows are starting to stabilize after a period of continuous outflows, with the 14 day netflow trend turning positive and suggesting that selling pressure is beginning to ease. As #BTC moves back above the $70K level, market sentiment is gradually improving. Institutional demand is still cautious, but early signs of re-accumulation are starting to appear, which could help support better price stability if inflows continue.

After adding $4.24B today, #Bitcoin open interest has climbed 18%, the biggest daily gain in a long time.

Still Extreme Fear 👀

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Right now, sentiment across the market is extremely fearful, with a clear imbalance in put call ratios, option skews, trading volume, and open interest. We haven’t seen this level of bearish positioning since the deepest phase of the last bear market.

The big question now is whether this heavy short positioning could trigger a short squeeze. If shorts begin covering, it could drive prices up quickly and potentially spark a broader rally.

After falling to -3.22, the 90 day Gradient Oscillator has now turned positive. Historically, rebounds like this have appeared when the market was already rebuilding underneath.

#Bitcoin is încă se luptă să spargă zona de $70K. Pe 19 februarie, 25 februarie și 3 martie (02:00 UTC), de fiecare dată când SMA de 12 ore a P&L net realizat a crescut peste $5M pe oră, prețul s-a îndreptat spre nivelul înalt de $69.4K, dar s-a oprit rapid și a revenit. De fiecare dată când același model a apărut, realizările puternice de profit din apropierea acestui nivel au oprit rally-ul.

Aceasta arată că presiunea actuală de cumpărare nu este suficient de puternică pentru a absorbi vânzările din acea zonă. Până când piața poate gestiona acele realizări de profit fără respingere, $70K ar trebui să fie văzut în continuare ca o rezistență mai degrabă decât ca un suport.

#Bitcoin spot ETF investors bought on average around $79,000, but since Bitcoin is now trading below $70,000 many of them are currently at a loss. During this correction, spot Bitcoin ETFs saw their largest drawdown since launch, with more than $8.9 billion flowing out of the market.

BlackRock's iShares Bitcoin Trust (IBIT) was one of the most affected, as over 42,000 BTC left the fund from its peak holdings of more than 806,000 BTC, showing strong selling pressure. Recently, however, the situation has started to stabilize, with the drawdown improving to around -$7.8B from the all time high, and stronger #ETF demand could help Bitcoin build a more stable base.

Still Extreme Fear 👀

As price moved toward the $69.4K level, traders increased leverage, positioning for a potential breakout above $70K. At the same time, perpetual open interest recorded its biggest daily percentage surge since July 2025, reflecting a wave of speculative activity that ultimately did not lead to a sustained move higher.

Presiunea de vânzare din partea deținătorilor pe termen lung începe să se tempereze după luni de distribuție netă susținută. Pe măsură ce #Bitcoin se stabilizează, investitorii experimentați par mai puțin înclinați să își vândă deținerile. Vânturile adverse ale ofertei sunt încă prezente, dar intensitatea generală a vânzărilor se estompează treptat.

Aproape 38% din #altcoins plutesc în prezent aproape de cele mai scăzute niveluri din istorie, un nivel care este chiar mai sever decât ceea ce am văzut după prăbușirea #FTX . Piața mai largă evită încă riscurile, ceea ce a pus o presiune suplimentară asupra altcoin-urilor, deoarece lichiditatea rămâne slabă și fluxurile de capital se îndreaptă mai mult către acțiuni și mărfuri.

Aceasta este cea mai abruptă retragere a ciclului actual, depășind 35% văzut în aprilie 2025 și 37,8% înregistrat după FTX. Chiar și așa, momentele de pesimism sever ca acesta stabilesc adesea scena pentru oportunități potențiale.

Still Extreme Fear 👀

Gold and silver have lost over $2.5 trillion in market value in just 4 hours.

That’s more than the entire crypto market cap.

Aproximativ 46% din #Bitcoin’s oferta în circulație, egală cu aproximativ 9,09 milioane BTC, se află în prezent la pierdere, conform unui analist #CryptoQuant .