Analyst: Derivatives sell pressure intensifies as Bitcoin holds near $77,000
CryptoQuant certified analyst Axel Adler Jr. noted in a post that over the past 24 hours, Bitcoin's price rose slightly by 0.4%, but selling pressure in the derivatives market has significantly intensified. The Bitcoin Derivatives Pressure Index dropped from -25.36 to -60.80, remaining below zero since September 6, indicating that sellers still dominate. Meanwhile, Coinbase continues to trade at a discount relative to Binance, with the latest Coinbase Premium Index at -0.0455% and its 48-hour average at -0.0323%, showing further weakening over the past 24 hours.
