Data: CryptoQuant: Bitcoin futures market dominated by bears, selling pressure reaches 3-month high

ChainCatcher reported that CryptoQuant analysis indicates that Bitcoin is currently fluctuating within the $62,000 - $68,000 range, with funding rates in the futures market remaining in negative territory, suggesting that bearish sentiment is dominating the market. Unlike the previous bottom in the $80,000 range, when funding rates were mostly positive.

Since 2025, selling pressure has been the dominant force in the market, with buy orders only absorbing supply. The current selling pressure has reached its highest level in the past three months. Notably, the futures market has maintained a high leverage status for 16 consecutive months, and since Bitcoin's last all-time high, excessive leverage has been decreasing. Analysts point out that although the price decline has forced some investors to liquidate their positions, it has actually improved the health of market leverage, which is a positive signal in the long term.