Analyst: Derivatives sell pressure intensifies as Bitcoin holds near $77,000
TechFlow reported on September 14 that CryptoQuant-certified analyst Axel Adler Jr. noted that over the past 24 hours, Bitcoin's price rose slightly by 0.4%, but selling pressure in the derivatives market has noticeably intensified. The Bitcoin Derivatives Pressure Index dropped from -25.36 to -60.80, remaining below zero since September 6, indicating that sellers continue to dominate. Meanwhile, Coinbase trades at a continuous discount relative to Binance, with the latest Coinbase Premium Index at -0.0455%, a 48-hour average of -0.0323%, and further weakening over the past 24 hours.
He believes that while Bitcoin currently shows some price resilience, the rally has yet to be confirmed by derivatives indicators and the Coinbase premium. The near-term outlook remains cautious; market pressure may only improve if the derivatives pressure index consistently returns above zero and the 48-hour Coinbase average premium turns positive. If negative pressure persists, the primary risk remains further price downside.
