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Bitcoin skilled a notable surge earlier this week, climbing above the $104,000 mark and registering a weekly achieve of almost 10%. Nevertheless, after reaching this degree, the asset seems to have encountered resistance, with upward momentum slowing and worth motion remaining comparatively flat in current days.
On the time of writing, BTC is buying and selling at $103,663, reflecting a modest 1.7% improve over the previous 24 hours. Amid this worth efficiency, certainly one of CryptoQuant’s prime analysts, Darkfost, provided perception into the present market stagnation.
Derivatives Market Exercise Alerts Brief-Time period Uncertainty
In response to his post on X, the basis of the slowdown seems to stem from the derivatives market. Particularly, he pointed to the cumulative web taker quantity, a metric that tracks the web quantity of market orders, remaining in unfavourable territory since BTC crossed above the psychological $100,000 threshold.
This means that there are extra aggressive promote orders (shorts) than purchase orders (longs), creating persistent downward stress on worth. Internet taker quantity is a helpful gauge of real-time dealer sentiment, and when it traits unfavourable, it usually indicators that market members count on costs to drop, prompting more short-selling.
– What does this imply ?
⁰In easy… pic.twitter.com/2ABZ3qzQ0s— Darkfost (@Darkfost_Coc) May 16, 2025
Darkfost emphasised that this development displays rising uncertainty amongst merchants about Bitcoin’s short-term skill to achieve new all-time highs. Whereas long-term sentiment remains positive, the imbalance in derivatives exercise highlights a cautious strategy amongst members.
“It clearly displays a rising sense of doubt amongst merchants concerning Bitcoin’s skill to achieve a brand new all-time excessive within the very quick time period,” he acknowledged. “In such a context, the market likes to show them flawed.” This sentiment-driven hesitation has slowed the tempo of Bitcoin’s rally, even because it stays inside placing distance of its January excessive.
Bitcoin Technical Setup Hints at Bullish Continuation
In the meantime, technical analyst Javon Marks pointed to chart patterns suggesting a possible continuation of Bitcoin’s bullish trend. He highlighted the formation of a bull flag, a technical sample usually interpreted as a pause earlier than the continuation of an upward motion. “Bitcoin appears to be bull flagging proper beneath all-time highs. A breakout can ship it above,” Marks wrote.
If confirmed, this might sign renewed upward stress and open the door for one more leg increased. Moreover, Marks famous that altcoins are exhibiting related habits to previous market cycles, significantly the surges seen in 2017 and 2021. He instructed that the present section might precede a broader altcoin rally, which traditionally tends to observe Bitcoin’s strikes.
Altcoins look to be transferring equally and proper on monitor because it did within the 2017 and 2021 surges.
The subsequent section appears to be the place #Altcoins ship the inexperienced mild, or in different phrases push of their most bullish phases.
This could SEND ALTS MUCH HIGHER, FAST
— JAVON
Featured picture created with DALL-E, Chart from TradingView
