Bitcoin Futures Open Interest Jumps by $1B on Binance While BTC Prints Bearish Pattern: Godbole

Bitcoin Dips Below $92K as Futures Open Interest Surges, Signaling Bearish Pressure

Bitcoin (BTC) fell beneath the $92,000 mark in overnight trading, extending recent losses as market sentiment turned bearish. The move coincided with a sharp rise in futures open interest, indicating an influx of short positions as traders anticipate further declines.

According to Coinglass, open interest in Binance’s BTC/USDT perpetual contracts surged by approximately 12,000 BTC (over $1 billion) as Bitcoin’s price dropped from $96,000 to below $92,000. Typically, a rise in open interest alongside a falling price suggests increased short selling rather than new bullish positions.

Meanwhile, cumulative volume delta (CVD) data from futures and spot markets shows persistent selling pressure outweighing buying demand, reinforcing the bearish outlook.

Marubozu Candle Signals Continued Selling Pressure

Monday’s trading session saw BTC decline 4.86%, forming a bearish marubozu candlestick—a technical pattern characterized by a strong red body with minimal wicks. This indicates that sellers controlled price action throughout the day, with little pushback from buyers.

Bitcoin remains below its 50- and 100-day simple moving averages (SMA), increasing the likelihood of further downside. Key support (S) lies at $89,200, the Jan. 13 low, with the 200-day SMA at $81,661 as the next critical level. On the upside, Bitcoin would need to reclaim $99,520 (R), the Feb. 21 high, to regain bullish momentum.