In this rebound, many users are expecting Bitcoin to rise to around 78000, but the overall rebound trend of BTC is very weak, and it hasn't even broken through the pressure line of 74000.
What is the reason? In fact, the data from the derivatives market can explain it.
The number of buyers in futures has once again become negative when calculated on a monthly average;
The number of buyers in futures has once again become negative when calculated on a monthly average;
In fact, this data showed a brief recovery during the sideways period from November to January, but the buying power has returned to about 36 million dollars, and now the data has turned into a net sell of 272 million dollars;
On the BN side, the trading ratio dropped from 1 to 0.97, which has pushed up the negative trend dominated by selling. If the negative trend continues to increase, stronger spot demand will be needed in the future to offset this selling pressure (but currently, strong demand needs to wait for the sentiment recovery after the U.S. stock market strengthens completely).
Considering the current macro environment and the key macro data (CPI and unemployment rate) that all markets are closely watching this week, many buyers are still maintaining calm and restraint.
The absence of an impulsive buyer's market and the ongoing panic market sentiment is the reason why this BTC rebound is so weak.