Bitcoin whales double down on futures as volatility spikes Bitcoin has seen wild swings since falling below the $80,000 support level, plunging to about $72,000 before rebounding to a local high near $76,873. At the time of writing, BTC traded around $76,049, down roughly 2.6% on the day amid acute market turbulence. Derivatives desks light up The volatility has driven many investors into the derivatives market, where both long and short exposure have surged. Onchain Lens reports two prominent whale moves that illustrate the polarized positioning: - One whale deposited $3 million in USDC and opened a 20x leveraged BTC long; that same entity previously posted an $11 million loss on longs. - Another whale put $5.2 million USDC to work opening a 14x BTC short; before the recent slip, that trader had pulled in about $10 million from shorts. Those trades are not isolated. CoinGlass data show derivatives volume jumped roughly 50% to $108 billion even as open interest declined to $50.9 billion — a sign of heightened trading activity and position turnover as traders shift in and out of leverage. Longs vs. shorts: mixed picture Exchange-level flows vary. On Binance and OKX, traders have skewed long with an average long/short ratio near 2. But aggregated across all venues the ratio sits at about 0.958 — below 1 — indicating shorts slightly outnumber longs overall. A ratio under 1 typically signals a bearish bias among futures participants. Capital and technicals Despite sharp selling, futures demand has translated into buying pressure, with roughly $26 million reportedly flowing into the futures market. However, technical indicators suggest sellers still hold the edge. The DMI-ADX smoothed reading shows the negative directional index above the positive, with ADX around 36 — a level commonly interpreted as signaling the strength of a prevailing bearish trend rather than a reversal. What could come next Given the current momentum, analysts see a greater probability of continued downside pressure. A further pull toward the $74,000 area is possible before any meaningful rebound. For a sustained trend reversal, buyers would likely need to recapture key moving average resistance near $81,000. Sources: Onchain Lens, CoinGlass, TradingView Disclaimer: This article is informational only and not investment advice. Cryptocurrency trading is high risk; do your own research before making any decisions. © 2026 AMBCrypto Read more AI-generated news on: undefined/news

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