CryptoQuant analyst Axel posted that Bitcoin futures net position (OI Net Position) has plummeted to a deep negative range, falling below the $100 million mark, the highest bearish pressure level since early July.
Despite the market facing short pressure, the bitcoin price remained near $115,000, indicating that some buying is absorbing the selling pressure. Axel said that such an extreme negative position divergence may trigger a short squeeze in the process of price rebound, but there is still further downside risk in the context of no position squaring contracts maintaining the current high pressure range.
Analyst: Bitcoin not position squaring net position turned negative, bearish pressure hit a new high in the month
2025-07-25 07:12:02
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