Bitcoin Dips Below $92K as Futures Data Shows Rising Short Positions

Bitcoin Falls Below $92K as Derivatives Data Shows Rising Bearish Pressure

  • Bitcoin’s price dropped below $92,000 overnight, with perpetual futures open interest rising by 12,000 BTC during the decline.
  • Data from Coinglass shows increased bearish short positions as traders opened new positions during the price fall.
  • The cumulative volume delta turned more negative, indicating stronger selling pressure than buying activity.
  • Monday’s trading formed a bearish marubozu candlestick pattern, suggesting complete seller dominance.
  • Technical support levels exist at $89,200 and the 200-day SMA at $81,661, while resistance remains at $99,520.

Bitcoin retreated below $92,000 in overnight trading, marking a significant pullback from recent highs as derivatives data signals mounting bearish pressure in the cryptocurrency markets.

- Advertisement -

The decline coincided with a substantial increase in perpetual futures open interest on Binance‘s BTC/USDT pair, which saw approximately 12,000 BTC (valued over $1 billion) in new positions opened as prices fell from $96,000, according to data from Coinglass.

Market analysts interpret the simultaneous rise in open interest and price decline as evidence of traders establishing new short positions. The cumulative volume delta (CVD), which measures the net difference between buy and sell volume, turned increasingly negative across both futures and spot markets, confirming the dominance of selling pressure.

Monday’s price action produced what technical analysts call a bearish marubozu candlestick – a rare pattern where prices open near the high and close near the low with minimal shadows, indicating sellers maintained control throughout the trading session. This formation, combined with prices trading below key moving averages, suggests the potential for continued downward momentum.

From a technical perspective, Bitcoin now faces crucial support at $89,200, corresponding to the January 13 low. Should this level fail to hold, the 200-day simple moving average at $81,661 represents the next major support zone. Conversely, bulls need to reclaim the February 21 high of $99,520 to invalidate the current bearish setup.

- Advertisement -

✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.

Previous Articles:

- Advertisement -

Latest News

Bitcoin 68% below parity with gold; fair price $278,000 est.

Bitcoin fell 12.3% over the past 12 months while Gold rose 80%.Swapping percentage gains...

Prediction Market Sees 30% Chance Bitcoin Dumps to $69K Now!

Myriad users lifted the probability of Bitcoin falling to $69,000 from 11.6% last Thursday...

TikTok Forms U.S. JV; ByteDance Keeps 19.9% Stake After EO25

TikTok formed a U.S. joint venture, with ByteDance retaining a 19.9% stake, to keep...

Crypto groups slam FTC over Nomad ‘kill switch’ demand now!!

Nomad lost about $186 million in a 2022 bridge exploit and later recovered roughly...

Corvex Lands Nvidia H200 GPU Lease for Battery AI R&D to IPO

Corvex signed a long-term lease to deploy NVIDIA H200 GPUs for an AI-driven battery...
- Advertisement -

Must Read

14 Ways On How to Make Money with Cryptocurrency

Many people want to make money with cryptocurrency because they have heard the success stories of people who became millionaires from zero.If you...
🔥 #AD Get 20% OFF any new 12 month hosting plan from Hostinger. Click here!