Bitcoin's Price Stuck Below $80,000 as CVD Data Reveals Diverging Trends
Bitcoin's price remains stuck below $80,000 as it struggles to hold ground. Derivative market data shows that cumulative volume delta readings are diverging across major exchanges, with Binance and Bybit experiencing declines while Deribit holds a positive value.
The split in CVD figures has fueled debate over whether the next move will be down or up. Rising short positions and taker selling are contributing to the decline, but existing long positions being closed at market price are adding to downward pressure.
However, some traders believe that a heavy short base can become fuel for a squeeze if the price stabilizes. The 72,000 to 74,000 dollar range is seen as a key swing point between correction and rally scenarios.
A rebound from this zone could trigger a short-squeeze rally, while a drop into it may lead to deeper CVD declines and accelerate selling.