Flow

Hope

Bitcoin

<p>Despite the recent decline in Bitcoin’s price, derivative market indicators suggest that optimistic investors remain active and confident. This in-depth analysis highlights the conflicting signals between market sentiment and current technical trends.</p> 
<h2 id="h-the-derivatives-market-shows-persistent-optimism">The derivatives market shows persistent optimism</h2> 
<p>Recent data from Coinglass shows sustained activity in the <a href="https://www.cointribune.com/le-top-5-des-produits-derives-bitcoin-btc-et-cryptos-pour-noel/" target="_blank" rel="noreferrer noopener">Bitcoin derivatives market</a>. Trading volume jumped by 46.20% in 24 hours, reaching $87.90 billion. This significant increase indicates that traders remain engaged despite volatility.</p>
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<p>Although open interest decreased by 6.66%, settling at $29.61 billion, this decline could be explained by profit-taking rather than <a href="https://www.cryptopolitan.com/bitcoin-derivatives-bulls-are-still-alive/" target="_blank" rel="noreferrer noopener">widespread pessimism</a>. The global long/short ratio of 0.9168 suggests a relative balance between long and short positions.</p> 
<p>Major exchanges show significantly higher long/short ratios. <a href="https://www.cointribune.com/en/crypto-ripple-partners-with-binance-to-counter-the-sec/" target="_blank" rel="noreferrer noopener">Binance</a> and OKX have ratios of 3.2176 and 2.88 respectively, indicating a strong bullish sentiment among the most active traders.</p> 
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<h2 id="h-technical-indicators-point-to-a-bearish-trend">Technical indicators point to a bearish trend</h2> 
<p>Despite the optimism in the derivatives market, <a href="https://www.cointribune.com/supports-et-resistances-les-bases-de-lanalyse-technique/" target="_blank" rel="noreferrer noopener">technical analysis</a> paints a bleaker picture. Bitcoin is trading below the Ichimoku cloud, a classic signal of a bearish trend. The On-Balance Volume (OBV) indicator shows a negative value of -110,131K, while the Chaikin Money Flow (CMF) is at -0.25.</p> 
<p>The Average Directional Index (ADX) at 35.94 indicates a strong, unfortunately bearish, trend. These signals suggest persistent selling pressure in the short term, with critical support levels around $56,000 and $55,000.</p> 
<p>Recent fluctuations have caused <a href="https://www.cointribune.com/en/a-wave-of-large-scale-liquidations-is-sweeping-through-the-crypto-market/" target="_blank" rel="noreferrer noopener">massive liquidations</a>, especially on the long side. In one hour, $49.76 million was liquidated, including $49.44 million in longs. Over 12 hours, the total reached $104.67 million, mostly long positions ($78.58 million).</p> 
<p>The divergence between the derivatives market and technical indicators illustrates the current complexity of the <a href="https://www.cointribune.com/en/panic-in-the-crypto-market-bitcoin-and-ethereum-are-collapsing/" target="_blank" rel="noreferrer noopener">Bitcoin market</a>. Although bulls remain active, caution is warranted in light of persistent bearish signals.</p>

Bitcoin: Derivatives Data Rekindles Hope

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