Net taker volume is a useful gauge of real-time trader sentiment, and when it trends negative, it typically signals that market participants expect prices to drop, prompting more short-selling.📊 The main reason why BTC is currently stuck at these levels comes from the derivatives market.💥The cumulative net taker volume has mostly remained in negative territory ever since BTC climbed back above the psychological $100 000 level.– What does this mean ? ⁰In simple… pic.twitter.com/2ABZ3qzQ0s — Darkfost (@Darkfost_Coc) May 16, 2025 Darkfost emphasized that this trend reflects increasing uncertainty among traders about Bitcoin’s short-term ability to reach new all-time highs.
While long-term sentiment remains positive, the imbalance in derivatives activity highlights a cautious approach among participants.“It clearly reflects a growing sense of doubt among traders regarding Bitcoin’s ability to reach a new all-time high in the very short term,” he stated.“In such a context, the market loves to prove them wrong.” This sentiment-driven hesitation has slowed the pace of Bitcoin’s rally, even as it remains within striking distance of its January high.
Related Reading: Bitcoin Rally Stalls as SOPR Spikes: Analyst Explains What It Means Derivatives Market Activity Signals Short-Term Uncertainty According to his post on X, the root of the slowdown appears to stem from the derivatives market.
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