{"id":5509,"date":"2025-06-28T04:11:09","date_gmt":"2025-06-28T04:11:09","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/fading-spot-volumes-and-muted-futures-sentiment-threaten-to-send-bitcoin-below-99000-again\/"},"modified":"2025-06-28T04:11:09","modified_gmt":"2025-06-28T04:11:09","slug":"fading-spot-volumes-and-muted-futures-sentiment-threaten-to-send-bitcoin-below-99000-again","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/fading-spot-volumes-and-muted-futures-sentiment-threaten-to-send-bitcoin-below-99000-again\/","title":{"rendered":"Fading Spot Volumes And Muted Futures Sentiment Threaten To Send Bitcoin Below $99,000 Again"},"content":{"rendered":"

Bitcoin returned to its familiar price range over the week after a dip last weekend brought its price to just under $99,000. This was followed by a bounce to the $106,000 price level, which has given bulls a reason to remain hopeful.\u00a0<\/p>\n

However, on-chain data shows some deeper cracks are forming beneath the surface.<\/a> The latest on-chain data from<\/a> analytics firm Glassnode shows growing signs of fatigue in both spot and futures markets. These are conditions that may again cause Bitcoin price to retest $99,000.<\/p>\n

Price Support Holds, But Momentum is Clearly Fading<\/h2>\n

Bitcoin has gone through multiple price swings in recent days, but it has found its way back to the narrow $100,000 to $110,000 band that has defined market structure since early May. On-chain data from Glassnode shows that strong accumulation between $93,000 and $100,000, which is visible on the Cumulative Volume Delta (CBD) Heatmap, has so far served as a buffer zone that helped Bitcoin’s prices bounce during the most recent geopolitical volatility. However, market volume indicates that this structural support may soon face additional pressure.<\/p>\n

According to the latest weekly report by Glassnode, investor profitability and engagement surrounding Bitcoin are cooling rapidly<\/a>. Specifically, a third major wave of profit-taking is causing the 30-day realized profit average to taper, and on-chain activity has decreased significantly. The 7-day moving average of on-chain transfer volume has dropped by about 32%, from a peak of $76 billion in late May to $52 billion over the recent weekend. Current spot volume trading, which is now at just $7.7 billion, is far below the volumes seen during previous rallies.<\/p>\n

\"Bitcoin\"<\/p>\n

The lack of strong buying enthusiasm on the spot market shows that bullish sentiment has been replaced by caution. As such, the risk of a breakdown below $99,000 grows unless another wave of demand re-enters.\u00a0<\/p>\n

Futures Market Also Cooling Off<\/h2>\n

The slowdown in sentiment is not limited to the spot market. <\/a>Although Bitcoin is attracting interest on derivatives exchanges, there are clear signs that futures sentiment is waning. Open interest dropped by 7% over the weekend, from 360,000 BTC to 334,000 BTC, and funding rates have been declining steadily since Bitcoin hit its Q1 2025 all-time high.\u00a0<\/p>\n

Futures market participants had been very active through Bitcoin\u2019s climb to $111,800 in May, but their conviction appears to be fading now. A further indication of a growing reluctance to hold long positions is the sharp decline in both the annualized funding rate and the 3-month rolling basis.\u00a0<\/p>\n

Without stronger directional conviction, the futures markets may not provide the upside needed to push Bitcoin to new highs. This situation may instead contribute to additional downward pressure.<\/p>\n

So far, Bitcoin has respected the $93,000 to $100,000 support zone, which was heavily accumulated during the Q1 2025 top formation. However, with low spot volumes, on-chain activity slowing, and fading futures sentiment, this support could become tested again. If market participants with a cost basis in this zone begin to sell, the resulting pressure could drag Bitcoin below $99,000 again next week.<\/p>\n

At the time of writing, Bitcoin is trading at $107,100.<\/p>\n

\"Bitcoin\"<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin returned to its familiar price range over the week after a dip last weekend brought its price to just under $99,000. This was followed by a bounce to the $106,000 price level, which has given bulls a reason to remain hopeful.\u00a0 However, on-chain data shows some deeper cracks are forming beneath the surface. The…<\/p>\n","protected":false},"author":1,"featured_media":5510,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[60],"tags":[65,111,108,73,112,113,70,71,2779,2780,995],"class_list":["post-5509","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-cbd-heatmap","tag-cumulative-volume-delta-heatmap","tag-glassnode"],"_links":{"self":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/5509","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/comments?post=5509"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/5509\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/5510"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=5509"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=5509"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=5509"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}