Derivatives Market Signals Selling Pressure as Bitcoin Hovers Near $100,000

According to insights from market analyst Darkfost, the derivatives market is the key reason behind this consolidation phase.

Shorts Overpower Longs: Net Taker Volume Turns Negative

At the heart of the analysis is the cumulative net taker volume, which has largely remained in negative territory since BTC crossed back above $100K. This metric measures the net difference between buyers (longs) and sellers (shorts) in derivatives markets.

“In simple terms, short positions have outweighed long positions over the past few days,” Darkfost explained. “This creates significant selling pressure, which is slowing down Bitcoin’s ability to continue its upward momentum.”

Trader Sentiment: Doubt Creeps In

The chart highlights that as BTC has hovered above six figures, negative net taker volume has persisted, reflecting growing skepticism about Bitcoin’s short-term ability to reach a new all-time high (ATH).

This imbalance between shorts and longs suggests that many traders are betting against further upside, at least in the immediate term.

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“It clearly reflects a growing sense of doubt among traders,” the analyst noted, adding a reminder that markets often punish consensus sentiment — especially when it leans too heavily in one direction.

A Set-Up for a Squeeze?

Historically, such imbalances can lead to short squeezes, where rapid upward movement forces short sellers to cover their positions, accelerating price gains. If BTC can absorb current selling pressure and break key resistance levels, it could surprise bearish traders — just as it has in past bull cycles.

Conclusion

Bitcoin remains in a pivotal zone. While sentiment in derivatives markets suggests caution, history shows that the crypto market often thrives on disproving mainstream expectations. Traders may want to keep an eye on shifts in taker volume and any signs of reversal in the short/long ratio as potential precursors to BTC’s next move.

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