The bears and the bulls fight in a strong accumulation of orders, where neither of them manages to take final control.
Trade volume tends to decrease in this type of scenario, but orders continue to accumulate, until one of the two parties manages to obtain most of the approval of the consensus.
Many often leave the market when the activity is not interesting, moving their capital to more lovable land.
However, currently in the Bitcoin futures market, others remain, waiting for an annoying exit from the range and increasing pressure for this to happen sooner.
It is impossible to know exactly where the price of Bitcoin will escape. However, the possibilities are greater.
One way to measure this sentiment is to read the premium of the perpetual futures markets. The longer the duration of the contract, the higher the price, which is generally linked to a healthy market.
Currently, the 3-month annualized premium on BTC futures contracts remains around 4%, which means the highest level in 30 days, clearly showing that there are still no signs that traders are leaning down.