Bitcoin Derivatives Market Shows Declining Selling Pressure, Offering Potential Support

Recent analysis of the Bitcoin derivatives market reveals a significant shift characterized by decreasing selling pressure. This trend mirrors patterns observed during April’s price correction, which boosted BTC’s support and is attributed to increased DeFi activity and growing institutional interest. CryptoQuant data indicates Net Taker Volume for BTC has shifted to neutral, suggesting a waning bearish sentiment in the market. This positive development could potentially provide additional support to Bitcoin’s price trajectory in the coming months.