Currently, there is an atmosphere of uncertainty in the Bitcoin market, but I can say that the buying side is weak. The CVD side is clearly negative, meaning that selling pressure continues in both futures and spot markets. Specifically, there is a data point of -5.9K in spot CVD. This may indicate a lack of real demand. Buyers have withdrawn from the market. The funding rate is positive, meaning there are slightly more longs in the market. However, this level is not very high; it seems more balanced. Open interest has recovered a bit in the last few hours, but it is not very aggressive. The most striking thing is: the Bid/Ask Delta is significantly negative, with sell orders dominating the order book.

Although the price appears stable, there is heavier selling pressure in the background. The long side is still positive, but there is no buyer support, so the sustainability of these upward movements is questionable. Currently, the short side seems somewhat more advantageous, but due to the lack of volume, upward fakes should not be ignored.

Disclaimer

This content is not investment advice and only represents personal analysis and opinion. Cryptocurrency assets carry high risk; there are no guarantees of specific returns or profits. Please do your own research. $btc #btc