According to the latest report by cryptocurrency analytics company CryptoQuant, the selling trend in Bitcoin derivative markets has come to the fore again. After a short-term balance period, it is observed that investors mainly made sales-oriented moves. This development raised questions about the permanence of the recent price recovery.
Data Shows Sales Accelerating
In the analyses, Net Taker Volume (30-day average) index was examined along with Bitcoin price movements. This indicator tracks which side buyers and sellers are dominant in derivatives markets. According to the latest data, Net Taker Volume is significantly negative at approximately -272 million dollars. This indicates that sales transactions are increasing. The fact that this rate has rapidly moved into negative territory, especially in recent months, reveals that sellers have gained weight again in the derivative markets.
From Short-Term Equilibrium to Selling Pressure Again
Between November and January, there was a brief period of recession during which buyers gained some leverage. Net Taker Volume increased to +36 million dollars during this period, creating temporary optimism in the markets. While volatility decreased in the same period, a limited recovery was observed in prices. However, this situation was not permanent. It has been reported that the selling pressure has gradually increased in recent weeks and has shown a stable trend rather than short-term fluctuations. Such continuous increases indicate that there may be a structural trend change, not a temporary one.
Binance Data Supports Rising Selling Pressure
Data on the Binance exchange, where most of the Bitcoin derivative transactions take place, also support this picture. Recently, the ratio of buyers to sellers decreased from 1.00 to 0.97. This slight decrease in the figure shows that sell-side transactions have gained weight. The parallel movement of the Net Taker Volume index and the data in the stock market reveals that the general decline expectation in the derivative markets has strengthened.
Experts evaluate the fact that Net Taker Volume and stock market-based rates follow the same direction as supporting the negative atmosphere in the market. It is stated that the majority of investors opened sales positions through derivative transactions.
The research shared that derivative products continue to have a significant impact on market direction when compared to total transaction volume and ETF inflows. Changes in derivative markets may be decisive in terms of price movements in the short term.
Additionally, it was emphasized that macroeconomic developments such as inflation and employment data to be announced soon may increase uncertainty in the market. It was emphasized that in such periods, rising sales pressure could make prices more fragile.
On the other hand, it was pointed out that a strong demand arising from spot transactions has not been seen yet. This suggests the need for additional buyer interest to offset selling pressure. It was reported that in the current environment where derivative markets are effective, price movements continue to remain weak and sensitive.
