Earlier today, Bitcoin (BTC) briefly fell below $115,000 – hitting a low of $114,116 – triggering panic selling across major crypto exchanges, including Binance. Sharp shifts in several key metrics, such as open interest and net taker volume, confirm the intensity of the sell-off.

Bitcoin Decline Wipes Out $500 Million In Open Interest

According to a Quicktake post on CryptoQuant by contributor Amr Taha, BTC’s drop below $115,000 led to a sharp decline in open interest on Binance, which fell from $14 billion to under $13.5 billion.

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The following chart shows Binance open interest declining by nearly 4% in a single day – a move typically associated with liquidation events. Supporting this, data from CoinGlass shows $760 million in liquidations over the past 24 hours.

To explain, such large-scale liquidation events typically occur when leveraged traders face forced position closures – long or short – due to margin calls. The sharp BTC drop resulted in the liquidation of approximately 183,514 traders in just 24 hours.

In addition to falling open interest and widespread long liquidations, Binance’s net taker volume also points to rising bearish sentiment. The metric plunged to -$160 million, underscoring aggressive selling pressure.

For context, Binance net taker volume measures the difference between market buy and sell orders initiated by takers. A positive value suggests dominant buying activity (bullish), while a negative value reflects dominant selling activity (bearish).

Binance net taker volume dropping into negative territory further reinforces bearish pressure on BTC. Since this net selling coincided with the decline in open interest, it indicates that many derivatives traders are panic-closing late long positions.

Will BTC Make Recovery?

Despite the falling price, shrinking open interest, and negative net taker volume, Taha suggests that these bearish indicators could paradoxically set the stage for a short-term rebound.

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Bitcoin’s selling pressure may be nearing exhaustion, while short interest continues to rise. This combination could trigger a market rebalancing phase, potentially paving the way for price stabilization – or even a short squeeze-driven bounce.

However, on-chain data points to continued bearish momentum. The increasing share of new investors among BTC holders may lead to overheated market conditions in the near term. 

At the same time, exchange reserves are rising, which could contribute to more selling pressure. Long-term BTC holders also appear to be selling in significant volumes, suggesting potential rally exhaustion.

That said, BTC could still remain on track for its year-end target of $180,000 – but only if it holds key support at $110,000. At press time, Bitcoin is trading at $115,310, down 2.1% over the past 24 hours.

Featured image from Unsplash, charts from CryptoQuant and TradingView.com

After another strong play for its all-time high in the past week, the price of Bitcoin has struggled to build on its recent bullish momentum. Over the last few days, the premier cryptocurrency has been specifically slow and lethargic.

On Friday, June 20, the Bitcoin price took a severe hit — together with the rest of the crypto market — and fell briefly beneath the $103,000 mark. However, the latest market data suggests that the price of BTC might enjoy some stability after the recent round of long liquidations.

BTC Gearing For A Run Of ‘Healthier Price Action’: Analyst

In a Quicktake post on the CryptoQuant platform, on-chain analyst Amr Taha explained the dynamics between the Bitcoin price and its recent long liquidation event. According to the online pundit, the market leader could be preparing for more stable price action over the next few weeks.

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Taha revealed that the critical $103,000 liquidation cluster, which held a large volume of overleveraged long positions on Binance, has been cleared off. This cascade of long liquidations came after the price of Bitcoin plunged toward the $102,500 level on Friday evening.

According to data from CryptoQuant, the price decline caused the long liquidations on Binance, the world’s largest exchange by trading volume, to exceed $160 million. The on-chain analyst noted that this long liquidation event also coincided with a major change in the Bitcoin Net Taker Volume on the cryptocurrency exchange.

Taha highlighted that the Net Taker Volume has moved deep into the negative territory, falling to nearly -$100 million in the past day. As observed in the chart below, this latest plunge marks the third time the Net taker Volume has fallen to this level in the month of June.

According to Taha, the change in this metric suggests that aggressive selling outweighed buying activity during the liquidation event. The on-chain analyst outlines two possible reasons for this trend, including that long positions were forced to close, pushing sell orders into the market as the Bitcoin price fell below $103,000. 

Taha added that some sections of Bitcoin retail traders might have pushed the panic button and filled new sell orders in fear of further losses. In the end, the crypto analyst concluded that the combination of long liquidations and extremely negative Net Taker Volume might not be completely bad for the flagship cryptocurrency.

Taha said:

While such events often feel devastating in the moment, they lay the groundwork for healthier price action. Given these dynamics, the path of least resistance may now shift upward as Bitcoin stabilizes above key support levels with reduced leverage overhead.

Bitcoin Price At A Glance

As of this writing, the price of BTC stands at around $103,450, reflecting an over 1% decline in the past 24 hours.

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Featured image from iStock, chart from TradingView

While the broader cryptocurrency market has experienced similar pullbacks, Bitcoin’s trajectory is attracting closer scrutiny due to its influence on overall sentiment and market structure.

Analysts are looking into how external factors, particularly geopolitical developments, are impacting trading behavior. One such development is the reported military engagement between Israel and Iran on June 13, which triggered sell pressure across high-risk assets, including digital currencies.

Amid these events, key metrics on Binance,  particularly Net Taker Volume, are showing increased sell-side dominance, suggesting short-term volatility may continue.

Binance Net Taker Volume Hits Multi-Week Low Amid Bitcoin Panic Selling

According to on-chain analyst Amr Taha on CryptoQuant’s QuickTake platform, Bitcoin’s Net Taker Volume on Binance fell to -$197 million, the most negative reading since June 6.

This metric, which compares aggressive selling to aggressive buying, indicates heightened urgency among traders to sell at market prices, bypassing limit orders. The seven-hour moving average (7HMA) has remained in negative territory since June 12, reinforcing the current downward pressure.

Historically, such extremes in net taker volume have been linked to local price bottoms, as they often signal panic-induced capitulation by retail and overleveraged traders.

Taha highlighted that a similar event occurred on June 6, followed by a 4% rebound in Bitcoin’s price within 24 hours. The implication is that, while aggressive selling may signal weakness, it also presents conditions that have previously preceded price reversals.

Geopolitical Shock Triggers Liquidation Cascade, May Signal Local Bottom

Taha also pointed to the geopolitical backdrop, specifically the sudden escalation between Israel and Iran, as a major catalyst for recent market behavior. News of the strike led to a surge in liquidation activity, especially among long-leveraged positions.

The correlation between the timing of the conflict and the spike in Binance sell volume suggests that traders are reacting to broader market uncertainty, contributing to downward momentum.

Despite this, Taha still views these conditions as potentially bullish in the medium term. Heavy selling often flushes out weaker hands, creating opportunities for long-term holders or institutional participants to accumulate positions at lower prices.

Taha suggests that while the short-term outlook remains volatile, the current setup resembles previous recovery phases, marked by contrarian buying and reduced selling pressure.

Featured image created with DALL-e, Chart from TradingView

While the momentum appears measured compared to past breakouts, the underlying market data suggests that structural shifts are underway that could influence the next major move.

So far, several indicators are pointing toward improving sentiment, particularly within the derivatives market, which now dominates Bitcoin’s overall trading volume.

Recent observations from analysts highlight a shift in the balance of trading activity, hinting that long positions are regaining strength over shorts. Meanwhile, updated cycle models suggest Bitcoin may still have room to extend its current trend, with structural similarities emerging between the present market and the 2017 cycle.

Bitcoin Net Taker Volume Turns Positive, What Does It Signal?

According to CryptoQuant analyst Darkfost, the 30-day moving average of Bitcoin’s Net Taker Volume has returned firmly to positive territory.

Net Taker Volume is an indicator that compares the relative size of long and short positions in the derivatives market over a given period. A positive reading indicates that buying pressure (long positions) outweighs selling pressure (short positions), while a negative reading suggests the opposite.

Darkfost noted that derivatives markets now account for roughly 90% of total Bitcoin trading volume, surpassing spot and exchange-traded (ETF) volumes. As a result, shifts in derivatives sentiment can often foreshadow broader price movements.

The return of the Net Taker Volume into positive territory suggests that speculative participants are positioning for continued upside. This realignment in the derivatives market, if sustained, could act as a catalyst to reinforce Bitcoin’s recent gains and set the stage for further price discovery.

Cycle Model Adjustments Point to Uptrend Continuation

In a separate analysis, CryptoQuant analyst Mignolet provided insight into Bitcoin’s longer-term trend outlook. Using a refined cycle model based on market capitalization data, Mignolet suggested that traditional cycle indicators have been slow to reflect the latest recovery.

To address this lag, adjustments were made to the model’s time series to detect earlier shifts in market behavior. Mignolet observed that what appeared to be a “bear market” zone under traditional models was, in reality, a buying opportunity within an ongoing upward cycle.

The current market structure, according to Mignolet, resembles the later stages of the 2017 bull market rather than the early phases of a new downturn. If this parallel holds, Bitcoin could still have significant upside potential before entering a major correction phase.

Featured image created with DALL-E, Chart from TradingView

Ethereum is trading below the $2,700 mark after days of struggling to reclaim it and push above $2,800. Bulls have been unable to gain momentum, and selling pressure has kept ETH below key resistance levels.

On Friday, the market was hit with negative news as Bybit, one of the top crypto exchanges, was hacked, leading to a loss of $1.4 billion in ETH. This event triggered panic selling, driving Ethereum’s price into lower demand levels, adding more uncertainty to its short-term outlook.

However, CryptoQuant data suggests a potential turnaround. Their latest analysis reveals that Ethereum taker buying is showing a bullish divergence—a key indicator that buying pressure is increasing despite price declines. This type of divergence has historically signaled the start of recovery rallies, as traders and institutions accumulate ETH at lower levels in anticipation of a bounce.

With ETH consolidating and bullish signs emerging, the coming days will be crucial in determining whether Ethereum can reclaim the $2,700–$2,800 zone or if further downside is on the horizon. Traders are now watching for key breakout levels to confirm a strong recovery rally.

Ethereum Prepares For A Comeback

Ethereum has been struggling as investors grow increasingly impatient with the massive selling pressure and negative sentiment surrounding the second-largest cryptocurrency. Since late December, ETH has been in a steady decline, with no clear signs of recovery on the horizon. Bulls have failed to reclaim key resistance levels, while bears continue to control the market, pushing the price lower with each failed breakout attempt.

Despite this prolonged bearish trend, on-chain data suggests a potential shift. CryptoQuant shared key data on X, revealing an interesting pattern that has historically marked the end of bearish trends and the beginning of bullish phases.

According to their analysis, when a bullish divergence occurs—where the price of Ethereum is falling, but taker buying volume is rising—past trends suggest that selling pressure is weakening. This typically signals that buying momentum is building as traders begin accumulating ETH in anticipation of a trend reversal.

Today, Ethereum is showing a taker buying bullish divergence, similar to previous instances that led to bullish breakouts. While the market remains uncertain, this could be an early indication of a new bullish phase. If Ethereum holds above current demand levels and reclaims $2,800, a strong recovery rally could follow.

ETH Testing Short-Term Demand

Ethereum is currently trading at $2,660 after an underwhelming Friday, where the price dropped 7% following the Bybit hack news and overall market uncertainty. Bulls are struggling to reclaim key resistance levels, and the lack of strong demand at current levels raises concerns about Ethereum’s ability to recover.

For Ethereum to confirm a bullish breakout, it must reclaim the $2,800 mark and push above $3,000 to gain momentum for a sustained rally. However, the lack of significant buying pressure suggests that ETH could continue consolidating in a tight range unless buyers step in soon.

Despite the lack of immediate strength, ETH remains above the $2,600 support level, which has acted as a key demand zone in recent weeks. As long as Ethereum holds above $2,600 and starts reclaiming key levels above $2,800, the possibility of a bullish reversal remains on the table. If demand increases and ETH can establish a foothold above $2,800, a bullish phase could start at any moment. However, if Ethereum fails to hold above support levels, it could see further downside pressure in the coming days.

Featured image from Dall-E, chart from TradingView

Bitcoin is currently at a critical phase, consolidating below key supply levels and holding above crucial demand. The market sentiment remains divided, with many leaning toward a bearish outlook as price action struggles to break above resistance. After weeks of sideways trading, investors are preparing for the next decisive move, which could set the tone for Bitcoin’s short-term trend. Analysts suggest the next price move could be aggressive, fueled by volatility and speculation.

Top crypto analyst Maartunn shared key metrics highlighting an interesting development in Bitcoin’s Net Taker Volume. According to Maartunn, dips in Net Taker Volume—an indicator that measures the difference between buy and sell orders in futures markets—have historically aligned with local bottoms for Bitcoin. This signal provides hope for bulls looking for recovery, suggesting that selling pressure may be subsiding.

With Bitcoin consolidating in a narrow range and trading volume declining, the stage seems set for a major price move. Whether BTC breaks above key supply levels to test all-time highs or falls toward critical demand zones remains uncertain. For now, all eyes are on the data, as signs of a potential local bottom could bring renewed optimism to the market.

Bitcoin Consolidates Around Key Levels

Bitcoin continues to trade in a narrow range between $94K and $98K, consolidating as it prepares for its next move. The market remains in limbo, with both analysts and investors speculating about the short-term direction of BTC’s price action. The cryptocurrency market as a whole seems to be waiting for Bitcoin to confirm the next major trend, as BTC often sets the tone for the rest of the market during critical moments in a cycle.

Top analyst Maartunn shared key metrics from CryptoQuant, shedding light on Bitcoin’s current state. He revealed that dips in Net Taker Volume—a measure of the imbalance between buying and selling in futures markets—historically align with local bottoms for Bitcoin.

According to Maartunn, this signal offers potential optimism for a recovery, but he remains cautious. “I’m setting a tight stop-loss this time because this 10-day range is getting old,” he noted, hinting at the possibility of an imminent breakout.

The next few trading sessions are expected to be decisive. The current consolidation phase is unlikely to last much longer, as price volatility often increases following extended periods of stagnation. Whether Bitcoin breaks above the $98K resistance to challenge the $100K level or slips below $94K into lower demand zones will set the tone for the market’s direction in the coming weeks.

BTC Price Prepares For A Big Move

Bitcoin is trading at $96,700 after several days of sideways trading and consolidation below the $98K mark. The market remains indecisive as BTC holds above the $95K level, providing a crucial support zone for the current price action. Despite holding this level, there’s no clear direction in the short term as bulls and bears battle for control.

For Bitcoin to regain bullish momentum, it must break above the $98K resistance and eventually push past the critical $100K level. If BTC can hold above $100K for a few days, this would likely confirm a reversal and spark a massive rally, potentially pushing the price into uncharted territory. Such a move would also serve as a strong signal of market confidence, enticing further buying activity.

On the flip side, a failure to defend the $95K level could lead to a deeper correction, with Bitcoin likely targeting lower demand zones around $90K or even $89K. The next few trading sessions will be crucial as BTC approaches the end of this consolidation phase. A decisive move in either direction could establish the trend for the coming weeks as traders and investors closely monitor these key levels.

Featured image from Dall-E, chart from TradingView