CryptoQuant-verified analyst Axel Adler Jr. said Bitcoin faced stronger selling pressure in the derivatives market over the past 24 hours, even as BTC rose about 0.4% during the same period. According to the data he cited, the BTC derivatives pressure index fell from -25.36 to -60.80 in 24 hours and has remained below zero since Sept. 6, pointing to continued seller dominance.
The index combines aggressive buy and sell pressure, changes in open interest denominated in BTC, and funding rates. Adler said the current reading shows sellers are in control, though the data does not determine whether the move is being driven by rising short positions or long liquidations and position closures.
At the same time, Coinbase continued to trade at a discount relative to Binance. The latest premium index was -0.0455%, while the 48-hour average stood at -0.0323%. Adler said a sustained move in the derivatives pressure index back above zero, together with Coinbase’s 48-hour average premium turning positive again, would be a sign of improving market conditions. If negative pressure persists, BTC could still face another leg lower.
BlockBeats reported on Sept. 14 that CryptoQuant-verified analyst Axel Adler Jr. said selling pressure in the BTC derivatives market increased over the past 24 hours. BTC still rose about 0.4% over the same period, but he said the price resilience has not yet been confirmed by stronger spot-side buying.
Data cited in his post showed the BTC derivatives pressure index dropped from -25.36 to -60.80 in the last 24 hours. The index has remained in negative territory since Sept. 6.
The metric combines aggressive buy and sell pressure, changes in BTC-denominated open interest, and funding rates. The current reading points to seller control, though it does not show whether the shift is coming from an increase in short positions or from long holders closing positions.
Coinbase also remained at a discount relative to Binance. The latest premium index reading was -0.0455%, and the 48-hour average was -0.0323%.
Adler said the market would show a stronger improvement signal if the derivatives pressure index moves back above 0 and stays there, while Coinbase’s 48-hour average premium also returns to positive territory. If the negative pressure continues, BTC still faces the risk of another decline.
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