Bitcoin News
By Evie Vavasseur
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Bitcoin continues to hold steady above $100,000, despite facing relentless selling pressure on Binance’s derivatives platform for more than a month.
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Since early May, Bitcoin has traded in a tight range between $100,000 and $110,000, occasionally dipping below the psychological $100,000 mark.
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Data from CryptoQuant reveals a persistent negative Cumulative Volume Delta (CVD) on Binance Derivatives.
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According to CryptoQuant contributor BorisVest, this behavior implies that large buyers—possibly institutional investors—are absorbing the sell orders.
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“The fact that the price isn’t falling under sustained sell-side pressure could point to accumulation by more sophisticated players,” BorisVest wrote.
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This dynamic has played out before in previous market cycles, where early institutional accumulation occurs during periods of suppressed volatility.
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However, not all analysts agree on the implications. Another CryptoQuant analyst, known as Crazzyblockk, offered a more cautious interpretation.
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Even so, Bitcoin’s ability to remain in its range despite multiple selling attempts is turning heads.
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Recent price action supports this view. At the time of writing, Bitcoin is trading around $108,589, up 0.4% on the day.
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Institutional interest in Bitcoin has been steadily increasing, especially after the approval of several Bitcoin ETFs earlier this year.
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Bitcoin's yearly percentage trend also adds to the optimism. If the current trajectory holds, projections estimate that BTC could reach as high as $205,000 by the end of 2025.
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In the short term, analysts suggest closely watching the $110,000 resistance level. A breakout above this could confirm bullish momentum and potentially lead to a rapid move…
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The next few weeks could be pivotal. As the battle between short sellers and strong hands continues, the market is likely building energy for a breakout.
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In conclusion, while aggressive selling continues on derivatives platforms like Binance, Bitcoin's underlying demand appears to be absorbing this pressure efficiently.
The Currency Analytics
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