- Bitcoin faces resistance at $105,000 due to derivatives pressure.
- 99% of Bitcoin addresses are in profit.
- Elevated profitability coincides with derivative market activity.
Despite Bitcoin’s stable trading within this range, the derivatives market exerts significant pressure. Market analyst Cas Abbé emphasizes the impact of negative cumulative net taker volume, suggesting bearish tendencies among derivatives traders.
Bitcoin’s current trading range is influenced by substantial selling activity in the derivatives market. While the cryptocurrency has attained a critical price level, reaching a breakthrough remains uncertain, primarily constrained by market mechanics.
Bitcoin remains in its ‘Acceleration Phase,’ a period characterized by elevated wallet profitability and volatility, even as derivatives activity dampens upward momentum. — Chris Kuiper, VP of Research at Fidelity Digital Assets [1]
The broader crypto market observes Bitcoin’s movements, often reflecting its trends. As Bitcoin’s price action stalls, the market contends with mixed signals from on-chain data and derivatives trends, affecting overall market sentiment.
Despite challenges, Bitcoin’s underlying metrics suggest potential upside, supporting bullish sentiment among options traders. The situation reveals complex market dynamics, with options data indicating the possibility of significant future movements.
About the author
Ethereum Surpasses $2,500 Amid Mixed May Performance
Ethereum crosses $2,500 amid mixed trading results in May, influenced by market dynamics.
UK Mandates Crypto Transaction Reporting by 2026
UK requires crypto firms to report all customer transactions by January 2026 under new regulations.
Smart Money Gains $71,400 from BULL Token Trade
Smart money investor profits $71,400 from short-term trade of 23.2M BULLs.
Over 100 Memecoins by Creator Linked to Rug Pulls
Sahil Arora, creator of memecoins, linked to numerous rug pulls, impacting ETH and SOL liquidity pools.
Robert Kiyosaki Predicts Bitcoin Reaching $250,000 by 2025
Robert Kiyosaki predicts Bitcoin will hit $250,000 by 2025, citing banking system concerns as a driving factor. The forecast highlights confidence in decentralized assets.
Whales Open Large Leveraged Positions on Hyperliquid
Whales open significant leveraged positions on Hyperliquid impacting Bitcoin and Ethereum markets.
Related
Ethereum Surpasses $2,500 Amid Mixed May Performance
Ethereum crosses $2,500 amid mixed trading results in May, influenced by market dynamics.
UK Mandates Crypto Transaction Reporting by 2026
UK requires crypto firms to report all customer transactions by January 2026 under new regulations.
Smart Money Gains $71,400 from BULL Token Trade
Smart money investor profits $71,400 from short-term trade of 23.2M BULLs.
Over 100 Memecoins by Creator Linked to Rug Pulls
Sahil Arora, creator of memecoins, linked to numerous rug pulls, impacting ETH and SOL liquidity pools.
Robert Kiyosaki Predicts Bitcoin Reaching $250,000 by 2025
Robert Kiyosaki predicts Bitcoin will hit $250,000 by 2025, citing banking system concerns as a driving factor. The forecast highlights confidence in decentralized assets.
Whales Open Large Leveraged Positions on Hyperliquid
Whales open significant leveraged positions on Hyperliquid impacting Bitcoin and Ethereum markets.
Be the first to leave a comment