Bitcoin (BTC) Price Might Be Headed Toward $100,000 as Bears Get Squeezed

Spot Cumulative Volume Delta (CVD) is the first thing to notice. On the spot market, this metric displays the total net buying or selling.

Bitcoin bears might be in trouble, as open interest on the shorts' side is slowly catching up to spot buying volume. This divergence has often preceded short squeezes, which in the case of Bitcoin will likely result in a breakout and a move toward $100,000.

The first thing to note is the Spot Cumulative Volume Delta (CVD). This metric shows the net buying or selling on the spot market. In this case, there is a rising spot buy delta, and the Spot CVD is leading with the price. This indicates that the recent rally in Bitcoin price is being driven by the spot market. In other words, as more people are buying Bitcoin on the spot market, the price is going up.

Perpetual contracts, however, tell a slightly different story. The Perp CVD is dropping more than the price, indicating bearish sentiment among futures traders. Moreover, there is an increase in perp selling. This suggests that while there is buying pressure in the spot market, the futures market is more likely to be selling.

The recent surge in Bitcoin price appears to be primarily driven by buying on the spot market. A rising Spot CVD together with the price suggests a strong buying interest.

Despite the futures market (perps) showing bearish sentiment, with a decreasing Perp CVD and rising selling pressure.

The increasing spot buy delta may indicate buying momentum. If you're a spot trader looking to buy or hold Bitcoin, this could be a positive sign.

Futures market: The decreasing Perp CVD indicates bearish sentiment, which could be a warning for those trading futures. The futures market is predominantly selling, which may lead to price adjustments or higher volatility.