Bitcoin seems to be experiencing a deceleration in its upward momentum after a recovery earlier this week. Following a rise close to $86,000, BTC has seen a slight pullback, currently resting just above the $84,000 level as of this writing.
This modest retracement follows a 10% increase over the last week that allowed the asset to bounce back from recent declines spurred by macroeconomic pressures. While the price fluctuations may indicate a normal retracement or consolidation period, the market sentiment presents a more intricate narrative.
As noted by CryptoQuant contributor abramchart, the sentiment in the futures market has not paralleled the recent price increase, reflecting a sense of caution among derivative traders. This disconnect between price dynamics and market sentiment could imply a rising uncertainty or a notable shift in investor behavior.
Bitcoin Futures Sentiment Indicates Waning Confidence
In a recent article titled “Weakening Futures Sentiment Signals Caution Amid Bitcoin Rally,” abramchart elaborated on how sentiment indicators have not kept pace with BTC’s recent price fluctuations.
From November 2024 to early 2025, Bitcoin enjoyed substantial gains, yet the futures sentiment index peaked early and has been on a steady decline since. Despite prices remaining relatively high, the index now approaches the support zone around 0.4, signaling an increase in bearish sentiment.
The historical resistance for the sentiment index hovers around 0.8, with support near 0.2. According to abramchart, the index’s proximity to the support level may indicate ongoing profit-taking, mounting macroeconomic uncertainties, or investor hesitance regarding regulatory issues.
Furthermore, he mentioned that Bitcoin’s average trading range between $70K and $80K points to potential accumulation rather than a strong directional belief. If sentiment remains stagnant at these levels, further consolidation or downside movement may be anticipated without robust bullish triggers.
Weakening Futures Sentiment Signals
“The chart indicates that while Bitcoin reached notable peaks, futures sentiment has weakened, which could be a cautionary signal of possible retracement or at least a lack of strong bullish conviction.” – By
@abramchart
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Binance Derivatives Present Signs of Reviving Optimism
In contrast to the cautious sentiment observed throughout the broader futures market, activity on Binance derivatives reveals signs of renewed optimism.
Another analyst from CryptoQuant, Darkfost, emphasized a shift in the Binance taker buy/sell ratio—a measure used to assess which side, buyers or sellers, dominates trading volume on the exchange’s derivatives platform.
According to Darkfost, the 30-day exponential moving average of this ratio had been below 1 for most of 2025, indicating a prolonged bearish sentiment.
However, recent data indicates a shift back to neutral territory, with renewed bullish activity. The ratio trending above 1 signals buyer dominance, and current information suggests that long traders are becoming more active again.
Although this does not guarantee a market reversal, it may indicate a resurgence of short-term momentum in favor of bulls, especially on platforms like Binance, which play a crucial role in price discovery in the crypto space.
Featured image created with DALL-E, Chart from TradingView
