Bitcoin Defies Selling Pressure on Binance Derivatives: Is a Major Breakout Imminent?

Bitcoin has shown exceptional resilience in recent months, maintaining a stable trading range between $100,000 and $110,000 since early May 2025. Despite occasional dips to $98,000 in June, the cryptocurrency has consistently closed above the critical $100,000 level, underscoring strong market support. Data from Binance Derivatives highlights sustained selling pressure over the past 45 days, with taker users aggressively shorting Bitcoin. This persistent bearish activity, however, has failed to significantly dent Bitcoin's price, suggesting underlying bullish strength. Analysts are now speculating whether this absorption of selling pressure could pave the way for a substantial breakout. The cryptocurrency's ability to hold its ground amidst intense shorting activity on one of the world's largest exchanges points to potentially robust fundamentals and growing institutional confidence. As the market watches these developments closely, many wonder if Bitcoin is poised for its next major upward movement, potentially challenging all-time highs in the coming weeks.

Bitcoin Absorbs Strong Selling Pressure on Binance Derivatives – Breakout Ahead?

Bitcoin has demonstrated remarkable resilience, maintaining a tight trading range between $100,000 and $110,000 since early May. Despite brief dips to $98,000 in June, the cryptocurrency consistently closed above the $100,000 threshold, signaling robust support.

Analysis of Binance Derivatives data reveals sustained sell-side pressure over the past 45 days, with taker users aggressively shorting each price rally. The Cumulative Volume Delta (CVD) metric confirms this persistent selling activity, yet Bitcoin continues to absorb the pressure without significant downside movement.

Market observers note the unusual strength of BTC's price action, as it defies typical market mechanics where such concentrated selling WOULD normally trigger deeper corrections. The cryptocurrency's ability to maintain its range under these conditions suggests underlying accumulation by larger market participants.

Binance's Spot-Perpetual Delta Signals Cautious Bitcoin Rally

Bitcoin's price action has been confined to a narrow range between $105,000 and $110,000 this month, lingering NEAR its all-time high. Yet beneath the surface, a telling divergence persists on Binance—perpetual futures prices continue to trade at a discount to spot markets.

The negative Spot-Perpetual Price Delta, observed since December 2024, reveals a structural imbalance. CryptoQuant's analysis highlights this anomaly: spot prices consistently lead while Leveraged derivatives lag. Such dynamics suggest the current uptick stems from organic spot demand rather than speculative futures positioning.

When this delta first inverted in December, it coincided with Bitcoin's then-record high—a moment marked by overheated perpetuals longs while spot trailed. Even after the 30% correction to $74,000 and subsequent recovery, the premium hasn't returned. Perpetual markets remain oddly disengaged from the rally.

This cautious stance among leverage traders may indicate an accumulation phase. The absence of frothy derivatives positioning reduces liquidation risks, potentially laying groundwork for more sustainable upside. Market structure appears healthier without the overhang of excessive leverage.