Bitcoin News Today: Bitcoin Futures Sell-Off Drives $115,400 Low Amid Bearish Pressure

Bitcoin is currently experiencing heightened bearish pressure in the short term due to aggressive futures sell-offs and declining open interest, yet long-term market fundamentals continue to support a bullish outlook [1]. In the past 24 hours, Bitcoin’s futures market saw a sharp bearish shift, with net taker volume plummeting to -$175 million and open interest dropping from over $3.06 billion to $2.98 billion as traders closed positions amid heightened volatility [1]. This sell-off pushed Bitcoin’s price down from the $117,000–$118,000 range to lows near $115,400, triggering widespread liquidations and aggressive position closures [1]. Analyst Axel Adler Jr. noted that the drop in net taker volume to -$175 million during the downturn signals intense sell pressure, while the bearish imbalance remained strong despite some stabilization [1].

Funding rates for both long and short positions have turned negative, a rare sign that short sellers are now paying premiums to maintain positions [1]. The 6-hour net taker volume remains deeply negative, confirming seller dominance in the market and highlighting the intensity of the current bearish phase [1]. These metrics serve as critical tools for traders to assess market sentiment and adjust strategies accordingly [1].

Despite these bearish indicators, analyst Merlijn The Trader emphasizes that Bitcoin is still in the second year of a historically bullish multi-year accumulation cycle [1]. He points to the fact that historically, one red year in Bitcoin's cycle is often followed by three green years, suggesting that the recent sell-off represents a temporary correction within a larger bullish trend [1]. Momentum indicators, including the Relative Strength Index (RSI), show no signs of overheating, indicating there is still room for further price appreciation [1]. Merlijn also notes that each major correction in Bitcoin’s history has led to new all-time highs, reinforcing confidence in the ongoing accumulation cycle [1].

The current volatility is a typical feature of accumulation phases, where market participants reposition for future growth [1]. While the short-term outlook is bearish—driven by aggressive futures selling and negative funding rates—the long-term structure remains intact [1]. Analysts stress that investors should monitor key metrics such as net taker volume, open interest, and funding rates to effectively navigate the volatile market [1].

Bitcoin’s short-term bearish sentiment is evident in the futures market, with net taker volume hitting -$175 million and open interest dropping to $2.98 billion amid high sell pressure [1]. However, the broader market context remains supportive of a bullish continuation [1]. Analysts such as Merlijn and Axel highlight that the current correction is part of a larger accumulation phase, and the market is likely to see renewed upward momentum as the cycle progresses [1]. Investors are encouraged to focus on historical patterns and long-term indicators to make informed decisions during this period of market repositioning [1].

[1] Source: [1] Bitcoin Faces Short-Term Bearish Pressure Amid Futures Sell-Offs but Long-Term Cycle Signals Potential Continuation https://en.coinotag.com/bitcoin-faces-short-term-bearish-pressure-amid-futures-sell-offs-but-long-term-cycle-signals-potential-continuation/