{"id":74779,"date":"2025-06-20T03:00:32","date_gmt":"2025-06-20T03:00:32","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=74779"},"modified":"2025-06-20T03:00:32","modified_gmt":"2025-06-20T03:00:32","slug":"is-bitcoin-gearing-up-for-a-breakout-on-chain-signals-say-watch-this-level","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=74779","title":{"rendered":"Is Bitcoin Gearing Up for a Breakout? On-Chain Signals Say \u2018Watch This Level\u2019"},"content":{"rendered":"

Bitcoin continues to trade below its recent all-time high as selling pressure and macroeconomic developments keep the asset in consolidation<\/a>.<\/p>\n

At the time of writing, BTC is priced at $104,835, down 2.1% over the past week and around 6.3% off from its peak of $111,814 recorded last month. Despite the broader trend<\/a>, on-chain data reveals emerging patterns that may signal what could come next in the market.<\/p>\n

Following the Federal Reserve\u2019s decision to keep interest rates unchanged in its latest policy meeting, analysts have noted diverging trends in Bitcoin\u2019s price and derivatives market activity.<\/p>\n

Derivatives Deleveraging and Liquidation Clusters Shape Price Structure<\/h2>\n

According to Amr Taha, a contributor on CryptoQuant\u2019s QuickTake platform, BTC has been hovering above the $104,000 support zone, where strong demand appears to be absorbing sell pressure.<\/p>\n

However, Taha pointed out<\/a> that open interest on Binance has declined, forming lower lows, a sign that the derivatives market is undergoing progressive deleveraging.<\/p>\n

Taha\u2019s analysis emphasized a technical divergence: while price has remained relatively stable around the $104,000 level, open interest has been falling. This divergence suggests that traders are reducing leveraged positions, possibly due to market uncertainty<\/a> or as a response to the Fed\u2019s cautious stance.<\/p>\n

Notably, the $104K region has emerged as a critical liquidity pocket, with data showing long positions being liquidated massively in this area. The dominance of long-side liquidations, with few short liquidations, reflects a flush-out of recent entrants attempting to ride the previous rally.<\/p>\n

The analyst argued that this deleveraging phase could pave the way for a price rebound if macro conditions remain favorable. Historically, Bitcoin has responded positively<\/a> to rate pauses, often resuming upward movement when signs of seller exhaustion appear.<\/p>\n

The stabilization of open interest, combined with reduced liquidations, might act as a foundation for a new upward push in the near term.<\/p>\n

Bitcoin Whale Activity on Binance and Shifts in Market Behavior<\/h2>\n

In a separate analysis<\/a>, another CryptoQuant analyst, Oinonen, highlighted growing whale activity on Binance. Since 2023, the whale ratio metric on the exchange has surged dramatically, climbing from 0.08 in mid-2023 to as high as 0.77 in 2025.<\/p>\n

This shift marks a 400% increase and indicates significant accumulation behavior among large holders. Whale inflows and retention on Binance have generally coincided with longer-term confidence during periods of market volatility.<\/p>\n

Moreover, the data shows that during recent episodes of elevated volatility, Binance users have leaned toward holding rather than exiting positions<\/a>. Inflows to the platform have remained low, particularly from both whales and retail participants, suggesting that market participants are refraining from panic selling and instead are anticipating future price appreciation.<\/p>\n

Featured image created with DALLE, Chart from TradingView<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin continues to trade below its recent all-time high as selling pressure and macroeconomic developments keep the asset in consolidation. At the time of writing, BTC is priced at $104,835, down 2.1% over the past week and around 6.3% off from its peak of $111,814 recorded last month. Despite the broader trend, on-chain data reveals […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-74779","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/74779"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=74779"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/74779\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=74779"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=74779"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=74779"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}