Bitcoin Is Soaring, But A Technical Detail Worries The Markets

Bitcoin seems to continue its wild rise. Its value now nears $97,000, driven by $840 million in inflows into Bitcoin ETFs. Behind this momentum, several technical signals nevertheless urge crypto investors to be cautious.

Bitcoin boosted by ETFs, but derivatives markets slow the euphoria

Massive flows into Bitcoin ETFs have propelled the flagship crypto to its highest level in two months. On the surface, the market seems to breathe a new bullish air. But one indicator spoils the mood: the “delta skew” of options. It remains stuck at +4%.

This figure reflects the distrust of professional crypto traders, who continue to favor put options over long positions. Breakdown: fear of a correction still dominates despite Bitcoin’s rise.

At the same time, traditional financial markets show signs of weakness. The Nasdaq struggles to gain height again, while U.S. bond yields slide to 3.51%. This return to the safety of Treasuries illustrates a global context of geopolitical risk and nervousness over volatility.

Even institutional investors, attracted by Bitcoin’s status as digital gold, hesitate to strengthen their positions.

BTC price: global tensions and derivatives block the $105,000 target

Bitcoin traders closely watch the $100,000 zone, considered a critical resistance level. Onchain data shows increased whale activity, often a sign of an imminent move. However, derivatives markets do not confirm this momentum.

Geopolitical concerns heighten this caution. Reference is made to remarks by Donald Trump on possible trade taxes related to Iran. Added to this are tensions with China, which revive market stress.

In this tense climate, leveraged position liquidations have already exceeded $370 million. A record since October 2025! Even giants like Berkshire Hathaway choose caution. Its record cash of $381 billion shows how much fear still dominates the economic landscape.

In any case, the price of Bitcoin continues to fascinate. That said, confidence remains fragile. As long as derivatives markets do not confirm a true bullish market, the road to $105,000 will remain strewn with obstacles. Story to follow…