Bitcoin witnessed a noticeable increase earlier this week, climbing the top of 104,000 dollars and a weekly profit for about 10 %. However, after reaching this level, it seems that the origin has faced resistance, with upward momentum slowed and prices are still relatively flat in recent days.
At the time of this report, BTC is trading at $ 103,663, which reflects a modest increase of 1.7 % over the past 24 hours. Amid this price performance, one of the best analysts in Cryptoquant, Darkfost presented an insight into the current market stagnation.
The derivative market activity indicates uncertainty in the short term
According to his participation on X, the slowdown root appears to stem from the derivative market. Specifically, he pointed to the size of the cumulative net, a measure that tracks the net size of the market orders, and remains in negative lands since BTC has expressed the maximum psychological limit of $ 100,000.
This indicates that there are more aggressive orders (shorts) more than the purchase orders (Longs), which creates a continuous land pressure on the price. Net Taker Volume is a useful scale for actual time trading, and when it goes negatively, it usually indicates that the market participants expect prices to decrease, leading to more short sale.
The main reason behind the presence of BTC is currently at these levels comes from the derivative market.
The size of the Great Net Taker has mostly in negative lands since BTC has risen back above the level of 100,000 psychological dollars.
– What does this mean?
⁰ In simple … pic.twitter.com/2abz3qqq0s– Darkfost (Darkfost_COC) May 16, 2025
Darkfost stressed that this trend reflects the increased uncertainty among traders about Bitcoin’s short -term ability to reach the highest new levels ever. While long -term feelings are still positive, imbalance in derivative activity highlights a cautious approach between the participants.
“It clearly reflects the increasing feeling of doubt among traders regarding Bitcoin’s ability to reach the highest new level ever in the very short term,” he said. “In such a context, the market likes to prove their mistake.” This frequency, which is driven by feelings, slowed the pace of bitcoin gathering, and is still an amazing distance from the highest level in January.
Bitcoin technical preparation hints in continuing ascension
Meanwhile, technical analyst Javon Marx pointed out the patterns of the graph, indicating a possible continuation of the biophageal trend. He highlighted the formation of bull science, and an artistic pattern is often interpreted as a temporary stop before an upward movement continues. “Bitcoin appears to rise in the flag in the shadow of its highest levels ever. It can be sent by the penetration above,” Marx wrote.
If this is confirmed, this may indicate renewed pressure and open the door for another higher leg. In addition, Marx indicated that Altcoins shows a behavior similar to the previous market courses, especially the grammar seen in 2017 and 2021. He suggested that the current stage may precede a wider gathering on Altcoin, which is historically inclined to follow Bitcoin’s movements.
Altcoins appears to move similarly to the right track as it did in 2017 and 2021.
The next stage looks where #Altcoins Delivery of the green light, or in other words, pushing in its most upward stages.
This can send ALTS much higher and fast
! pic.twitter.com/2wrr0wotzb
Javon
Signs (@javontm1) May 16, 2025
A distinctive image created with Dall-E, the tradingView chart
Source: https://www.newsbtc.com