Bitcoin Futures Signal Bullish Momentum: Is $100,000 Next?

Bullish sentiment in the Bitcoin futures market remains strong, despite a slight pullback in position dominance compared to earlier this week, according to analyst Axel Adler Jr.

Bitcoin (BTC) price faced a slight setback on May 8 as bullish sentiment in the futures market continued to be a dominant theme, albeit with a slight pullback in position dominance compared to earlier in the week.

As visualized by analyst Axel Adler Jr, the cryptocurrency market updates from CryptoQuant showed that bearish traders had largely surrendered, setting the stage for a potential push toward the $100,000 mark.

Chart: CryptoQuant's Futures Position Dominance v2.0

The analysis focused on an updated version of CryptoQuant's Futures Position Dominance v2.0, a metric that measures the ratio of total futures positions to the exchange's balances.

The chart highlighted taker long buildup dominance (marked in green), which had surged throughout May 6–8. Despite a marginal cooldown in futures pressure, the sustained green momentum and aggressive long positioning indicated that bulls were still in control.

“It’s not so important now — the bears have already surrendered,” Adler Jr remarked in a recent tweet thread.

The recent shift in futures market dominance occurred as key metrics, like the long-term holder (LTH) net positions, showed long build-ups outpacing short positions.

Moreover, BTC price testing the $99,000 level suggested that the market was still sensitive to price changes, which could influence the short-term trend.

The presence of short covering and minimal new short build-ups supported the idea that upside pressure might continue unopposed — unless met with unexpected macroeconomic resistance or liquidation events.