Recent analysis from CryptoQuant suggests that Bitcoin’s price action may be hinting at a potential trend reversal. Binance traders are now displaying a noticeable shift towards short positions, as reflected in the dramatic drop of open interest and corresponding funding rate shifts. This indicates increasing bearish sentiment in the market. 37% decrease in Binance’s open interest after hitting an all-time high suggests many long positions were forced to exit after the recent price correction, opening the door for increased short positions. CryptoQuant data shows that the funding rate has recently turned negative, indicating shorts are now effectively paying longs – a classic sign of market bearishness. The spot price, however, remains strong compared to its perpetual futures counterpart on Binance, suggesting an accumulation phase by real-world buyers rather than simply shorting the asset.