Bitcoin’s market picture is sending mixed signals: spot and perpetual traders are behaving differently, creating a divergence that could be a key risk for near-term price action. What the data shows - Spot activity is increasingly bullish. CryptoQuant’s Average Spot Order Size — which highlights which side is dominating trading during a given period — is showing a pattern historically linked to rallies: after a downtrend, a green-dot then red-dot formation has previously preceded notable BTC upswings. The last three occurrences on that chart marked the start of profitable phases and subsequent rallies. (Source: CryptoQuant) - Still, Hyblock’s bid-to-ask ratio is slipping, suggesting that while spot sentiment remains positive overall, sell-side participation is creeping up and bearish orders are gaining traction. - Spot accumulation has been concrete: spot investors bought roughly $113.23 million of BTC in the past two days, and CoinGlass data shows total spot purchases in December have topped $4.11 billion — evidence of strengthening demand. (Source: CoinGlass) Perpetual market adds bullish tilt — with caveats - Perpetuals are also skewed toward buyers. The Taker Buy/Sell Ratio is above 1, meaning buy volume has outpaced sell volume over the past day, and total perpetual trading volume sits at $53.23 billion — a 151% increase compared with the same period. (Source: CoinGlass) - Short positions have been punished far more than longs recently: short traders suffered roughly $40.56 million in losses over the past day versus $2.47 million for longs — about a 16.4:1 loss ratio. That imbalance highlights outsized liquidation risk for shorts and the potential for short squeezes if flows accelerate. - Funding Rate is positive at ~0.0077%, reinforcing long-side dominance. Sustained positive funding tends to be constructive for BTC over time, though it can also indicate crowded longs in leveraged markets. Bottom line Spot metrics and on-chain indicators point to a budding bullish bias, while Hyblock’s bid-to-ask drift and mixed perpetual signals introduce nuance and risk. The combination — growing spot purchases, buyer-heavy perpetual flows, and a positive funding rate — supports an optimistic view, but the divergence between spot and derivatives participation and rising sell-side interest means volatility and reversal risk remain real. Disclaimer: AMBCrypto’s content is for informational purposes only and should not be construed as investment advice. Cryptocurrency trading carries high risk; do your own research before making any decisions. © 2025 AMBCrypto Read more AI-generated news on: undefined/news

#BTC