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Key Takeaways What signals highlight Bitcoin’s futures weakness? Futures Pressure Index at 32.5 and Taker Buy/Sell Ratio near 0.89 showed persistent bearish positioning. Where does BTC Spot strength appear? Exchange Netflows stayed negative, Spot Delta hit 447 BTC, and Adler flagged $114.5k VWAP as critical support for continued consolidation. Bitcoin [BTC] traded within a consolidation range of $113k and $117k over the past week.  In fact, at press time, BTC changed hands at $115,771, down 1.01% over 24 hours. Amid this market slowdown, participants in the Futures markets turned extremely bearish.  Futures market leans bearish CryptoQuant analyst Axel Adler noted that Bitcoin’s Futures Pressure Index fell to 32.5, near quarterly extremes of bearish pressure. Source: CryptoQuant Such extremely low levels implied that most leverage heavily leaned bearish, with a lot of short positions or aggressive selling in the Futures. Futures Taker CVD data confirmed that sellers dominated the 90-day cumulative flows. Source: CryptoQuant The Taker Buy/Sell Ratio held below 1.0 for most of the past week, last printing 0.89, at the time of writing. It only crossed above one twice, reflecting persistent selling in the derivatives market. Normally, such pressure could weigh further on prices. Source: CryptoQuant Spot demand absorbs selling Despite the futures-driven sell pressure, the Spot markets held up firmly, suggesting that organic demand had actively absorbed selling pressure.  At press time, Bitcoin’s Spot Buy Volume was 1.68k BTC, compared to 1.23k BTC in Sell Volume. As a result, the king crypto saw a positive Delta of 447 BTC, indicating a higher buying pressure.  Source: Coinalyze Exchange Netflows backed this signal. Netflows stayed negative across the past week, with a fresh outflow of 577 BTC on the 19th of September after the previous day’s –18.4k BTC. Source: CryptoQuant Persistent outflows pointed to ongoing accumulation by buyers. VWAP holds…

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Filed under: News - @ September 20, 2025 7:22 pm