Bitcoin Derivatives Selling Pressure Rebuilds Ahead of Key Macro Data

According to a report shared by CryptoQuant, Bitcoin is once again experiencing rising selling pressure in the derivatives market, even after a brief stabilization period earlier this winter.

The latest data shows that sellers have regained control, raising concerns about the durability of the recent price rebound.

The chart combines Bitcoin price action with Net Taker Volume (30-day moving average), a metric that tracks whether aggressive market participants are predominantly buying or selling in derivatives markets.

What the Chart Shows

• Blue line: Bitcoin price (USD)
• Green / red bars: Net Taker Volume (30-day average)

Positive net taker volume (green) indicates aggressive buying dominance, while negative readings (red) reflect aggressive selling pressure from derivatives traders.

As of the latest reading, the monthly average Net Taker Volume has turned decisively negative again, reaching approximately -$272 million, confirming that sellers are currently dominating derivatives flows.

Shift From Calm to Renewed Selling

Between November and January, the chart shows a brief stabilization phase. During this period, buyers temporarily regained some control, with Net Taker Volume improving to around +$36 million. This coincided with reduced volatility and a short-lived price recovery.

However, that balance has now reversed. Selling pressure has steadily rebuilt, with the negative bars deepening over time rather than appearing as a single liquidation event. This gradual acceleration suggests a sustained positioning shift rather than a temporary spike.

Binance Data Reinforces the Trend

On Binance, which concentrates a significant share of Bitcoin derivatives volume, the taker buy/sell ratio declined from 1.00 to 0.97 over the same period. While the move may appear small, it confirms that sell-side aggression has overtaken buy-side activity across the largest trading venue.

This alignment between Net Taker Volume and exchange-level ratios strengthens the signal that derivatives markets are leaning increasingly bearish.

Why This Matters Now

The report highlights that futures activity continues to dominate overall market flows, given the persistent gap between derivatives volume and both spot volume and ETF inflows. In this environment, derivatives positioning has an outsized influence on short-term price direction.

What makes the current setup more fragile is timing. With key macroeconomic releases approaching, specifically inflation (CPI) and labor market data, risk appetite across all markets remains sensitive. In periods like this, elevated derivatives selling pressure typically requires strong spot demand to counterbalance it.

Conclusion

Bitcoin’s recent rebound is occurring against a backdrop of renewed and accelerating derivatives selling pressure. While price has not yet fully reflected this imbalance, the chart suggests that downside risk remains elevated unless spot demand strengthens meaningfully.

Until that shift occurs, derivatives-led flows are likely to keep price action fragile, particularly as macro uncertainty remains high.

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