$BTC Bitcoin reached a potential demand reactivation zone
If historical patterns repeat, bitcoin would have entered a consolidation period.
Bitcoin (BTC) reached demand reactivation levels this week, as has happened in the past.
The digital asset fell below 90,000 dollars, in a downward movement that has been developing for several weeks and now coincides with technical metrics and on-chain indicators typical of exhaustion phases.
During the week, the short-term momentum continued to deteriorate. The relative strength index (RSI), which measures the speed and change of BTC's price movements, dropped from 34.1 points to 27.3 points in seven days. This places the market in oversold territory. The analysis firm Glassnode points out that such low readings are often associated with seller exhaustion and early stages of stabilization.
In the derivatives markets, bitcoin's bearish pressure intensified strongly in the last week. The cumulative volume delta (CVD) of futures fell to -449.9 million dollars. Meanwhile, the CVD of perpetual contracts also decreased significantly, dropping to -1.000 million dollars, reflecting a clear dominance of the selling side.
The CVD is important as it shows the accumulated difference between aggressive buying volume and aggressive selling volume in the market. Additionally, it helps to understand whether bitcoin's declines or rises are driven by real pressure or if they are more technical and moderate movements.
Little leverage in bitcoin
Despite the behavior of the CVD, open interest in bitcoin remained stable at 34.500 million dollars in the last week. This indicates that there was no significant increase in leverage, but rather a more orderly selling process.
