Binance Traders Short Bitcoin Amid Price Consolidation Near All-Time High
Bitcoin's price continues to hover below its record peak, trading between $100,000 and $110,000 with brief spikes above $110,000. Despite the elevated valuation, Binance traders are increasingly betting against the rally, as indicated by declining funding rates. This divergence in market sentiment highlights the uncertainty surrounding Bitcoin's next major move.
Bitcoin Traders Bet Against Rally as Price Consolidates Near All-Time High
Bitcoin's price action remains constrained below its record peak, oscillating between $100,000 and $110,000 despite intermittent upward momentum. The asset briefly touched $110,307 before settling at $108,311, marking a marginal 0.3% dip over 24 hours.
Market sentiment appears divided as Binance traders increasingly short BTC despite its elevated valuation. CryptoQuant data reveals declining funding rates on the exchange—a telltale sign of Leveraged bearish bets. "This reflects skepticism about the rally's longevity," notes analyst BorisVest, highlighting the tension between spot accumulation and derivatives pessimism.
Web3 Gaming Innovators Fabwelt and LoveBit Forge ESG-Focused GameFi Partnership
Fabwelt and LoveBit have announced a strategic alliance to merge immersive gaming with environmental, social, and governance (ESG) principles in the Web3 space. The collaboration leverages Fabwelt's Play-to-Earn metaverse infrastructure, powered by its native token $WELT, alongside LoveBit's community-driven approach on BNB Chain.
Fabwelt's ecosystem supports high-end 3D blockchain games like Arsenal and H2O, integrating NFT marketplaces and DeFi systems. LoveBit introduces an ESG framework to GameFi, aiming to create real-world impact through tokenized incentives. The partnership signals growing convergence between entertainment and purpose-driven crypto applications.
WazirX Users Sue Exchange Over Frozen Funds in Singapore High Court
WazirX faces mounting legal pressure as users file suit against its Singapore entity, Zettai, alleging unjustified freezing of crypto and fiat balances. The dispute centers on Bitcoin, XRP, Tron, Binance Coin, Tether, and INR holdings—some allegedly unhacked—being grouped into a contested restructuring plan.
Romy Johnson's 40-page affidavit challenges Zettai's asset categorization, arguing Singaporean law prohibits treating user-held trust assets as corporate liabilities. The case could set precedents for crypto exchange accountability and user protections in cross-border disputes.
BNB Price Eyes Upside Break as Bulls Regain Control
BNB has established a strong foothold above the $650 support level, signaling potential for further gains. The cryptocurrency now trades comfortably above $655, with the 100-hour moving average providing additional technical support.
A contracting triangle pattern forming NEAR $662 on the hourly chart suggests imminent volatility. Market participants are watching for a decisive break above $665, which could propel BNB toward $672 and potentially $680 in the near term.
The recovery from $620 mirrors broader market trends seen in Bitcoin and Ethereum, indicating synchronized bullish sentiment across major digital assets. Trading volume and order book depth on Binance will likely determine whether this technical setup results in a meaningful breakout.
Bitcoin’s First $109K Weekly Close Sparks Breakout Speculation
Bitcoin achieved a historic milestone on July 6th, closing above $109,000 for the first time in its weekly trading history. The cryptocurrency settled at $109,216, edging past the previous resistance level of $109,004. This breakthrough has reignited bullish sentiment, though market participants remain cautious about sustainability.
Institutional interest appears to be returning, with buyers stepping in at key support levels. The $107,320 zone now serves as critical mid-range support—a level that must hold to maintain upward momentum. Failure could see bitcoin test lower supports near $104,984.
Liquidation heatmaps suggest short-term pressure toward $107,000 before any potential retest of the $110,000 threshold. Three previous breakout attempts at this level have failed, making confirmation of this breakthrough particularly significant for market structure.
Bitcoin Defies Persistent Selling Pressure on Binance Derivatives
For 45 consecutive days, Binance Derivatives has seen relentless selling activity from taker users, as reflected in the persistently negative Cumulative Volume Delta (CVD). Despite this aggressive short positioning through market sales, Bitcoin has held firm within a $100,000-$110,000 range, demonstrating remarkable resilience.
The divergence between derivatives traders' bearish sentiment and Bitcoin's price stability suggests absorption by institutional buyers. Each rally attempt has been met with fresh short entries, yet the market structure remains intact—a historically bullish signal when sell-side pressure fails to drive prices lower.
CryptoQuant analysts note this absorption pattern could foreshadow upside potential. The CVD's continued decline contrasts sharply with Bitcoin's horizontal consolidation, creating a tension that typically resolves through volatility expansion.
