Bitcoin stalls near record highs amid derivative pressures but breakout potential remains

Bitcoin (BTC) He continues to show strength on the chain despite a long period of price pressure between $ 100,000 and 105,000 dollars.

according to Sincerity Vice President of Digital Assets, Chris Koyber, Chefir Al -Raed It is still in the “acceleration stage”, “, A period of high profitability of the wallet and its flip, even with the decrease in derivatives.

Bitcoin was closed at $ 10,119 on May 13, with 99 % of the addresses in the profit. Sincerity data shows that 10 days may be qualified as high -profit, high -scaling sessions. Historically, this stage is parallel to penetration movements, including the boom that followed the American elections in late 2020.

Despite these conditions, Bitcoin was unable to violate the higher resistance levels decisively, with a largely existing closing prices in a narrow range of $ 94,000 to $ 104,000 during the first half of May.

Derivatives activity created the opposite wind

According to May 16 report by Cryptoquant Darkfost shareholder, the restricted price work stems from structural pressure in the derivative market.

The report highlighted that the size of the cumulative pure retirees, a measure of aggressive circulation, has been negative since Bitcoin recovered $ 100,000. This defect shows that short situations have surpassed the phase, generating constant sale pressure.

The decline situation indicates that merchants question the short -term transition to the highest level ever and are actively betting against more upward trend. As long as this defect continues, bitcoin’s upscale capabilities remain covered despite the favorable conditions in the immediate and identical markets.

The recession in prices in the presence of the upscale basics is unprecedented. However, strong network signals can be temporarily mute when the derived flows overcame the accumulation of a spot.

The current difference between derivatives and profitability on the series highlights the friction in the process of discovering bitcoin prices.

Bitcoin fluctuation decreased low record against gold

The silent Bitcoin price movement also resulted in historical pressure of fluctuations, which reached the last time seen more than 10 years ago.

You are Digital Asset Research Head, Matthew Segel, male On May 16, Bitcoin fluctuated for 30 days decreased to less than gold for the first time since the data tracking began.

Based on the terminal BBR/GC1, the BBR/GC1 is now 0.857, and it is its lowest level over a decade.

While the derivative mode is still a barrier in the short term, historical patterns indicate that long periods of fluctuation have preceded large directional movements.

Whether this is achieved again, it depends on the transformations of the donor’s flow, macro conditions, and liquidity conditions.

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