ChainCatcher reports that CryptoQuant analysis indicates Bitcoin’s current price is hovering between $62,000 and $68,000. The futures market funding rates remain in negative territory, suggesting that bearish sentiment is dominating the market. Unlike the previous bottom around $80,000, when funding rates were mostly positive.
Since 2025, the dominant force in the market has been selling pressure, with buy orders only absorbing supply. Current selling pressure is at its highest level in three months. Notably, the futures market has maintained high leverage for 16 consecutive months. Since Bitcoin’s previous all-time high, excessive leverage has been decreasing. Analysts point out that while price declines have forced some investors to liquidate, they have actually improved market leverage health, which is a positive long-term signal.
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