{"id":636125,"date":"2024-08-17T11:00:34","date_gmt":"2024-08-17T11:00:34","guid":{"rendered":"https:\/\/uniquehot.com\/?p=636125"},"modified":"2024-08-17T07:53:36","modified_gmt":"2024-08-17T07:53:36","slug":"bitcoin-spot-perpetual-gap-points-to-continued-selling-pressure-analyst","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-spot-perpetual-gap-points-to-continued-selling-pressure-analyst\/","title":{"rendered":"Bitcoin Spot-Perpetual Gap Points To Continued Selling Pressure &#8211; Analyst"},"content":{"rendered":"<p><span style=\"font-weight: 400\">The month of August has been largely uneventful for Bitcoin so far, with the premier cryptocurrency having struggled to reclaim the $65,000 price mark since August 2. Currently, Bitcoin is slightly <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/bitcoin-observes-pullback-to-58000-the-cause\/\" target=\"_blank\" rel=\"noopener \">below $60,000<\/a> as the bulls and bears seek to grab control in what has been a range-bound market for the past week. <\/span><span style=\"font-weight: 400\">Interestingly, CryptoQuant analyst XBTManager has shared revelations that indicate the BTC market is likely to maintain its current bearish form for the time being.<br \/>\n<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/bitcoin-bears-in-control-record-low-funding-rates-on-binance\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Bears in Control? Record Low Funding Rates on Binance Signal Market Shift<\/a><\/div>\n<h2><strong>Wide Spot-Perpetual Gap Spells Trouble For Bitcoin<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">On August 16, XBTManager<a href=\"https:\/\/cryptoquant.com\/insights\/quicktake\/66bf2b17c04d2b140da207ca-Spot-perpetual-price-gap\" target=\"_blank\" rel=\"noopener nofollow\"> reported<\/a> that Bitcoin\u2019s Spot-Perpetual Price Gap, as tracked on the Binance exchange, is continually in a negative form indicating that the asset may record more price loss due to a sustained selling pressure.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">For context, a Spot-Perpetual Price gap occurs when there is a difference between the valuation of Bitcoin on the spot market which deals with the asset\u2019s actual price, and on the perpetual markets which allow traders to deal in speculations of the Bitcoin\u2019s future price.<\/span><\/p>\n<p><span style=\"font-weight: 400\">When the perpetual price is lower than the spot price as in the current case of Bitcoin, it indicates traders are massively offloading the asset in the perpetual futures market as they believe there could be an incoming price fall.\u00a0 <\/span><\/p>\n<p><span style=\"font-weight: 400\">Expectedly, XBTManager predicts this negative spot-perpetual gap will translate into a heightened selling pressure in the spot market as several traders will look to sell their assets and buy in the perpetual market thus taking advantage of the arbitrage to gain some profit.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">In the advent of such a reaction, deep liquidation hunts might occur i.e. where a large number of leverage positions are forcefully closed down, leading to a larger negative Spot-Perpetual Gap, and increased selling activity.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, XBTManager has noted a potential positive for Bitcoin in this uncanny situation. The analyst states that high selling pressure will likely result in an accumulation of multiple short portions on Bitcoin.\u00a0<\/span><span style=\"font-weight: 400\">Therefore, the instance of a sudden price gain might force these positions to close leading to some significant buying activity that could reduce the current negative Spot-Perpetual Price gap.<br \/>\n<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/bitcoin-risk-correction-cryptoquant-head-says\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Still At Risk Of Further Correction, CryptoQuant Head Says<\/a><\/div>\n<h2><strong>BTC Price Overview<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">At the time of writing, Bitcoin trades at $58,981 with a 2.28% gain in the past day. However, the token\u2019s daily trading volume is down by 16.37% and is valued at $29.5 billion. On larger time frames, Bitcoin also remains in the red zone with a loss of 2.92% and 8.76% over the last seven and thirty days respectively.\u00a0<\/span><\/p>\n<figure style=\"width: 1480px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.tradingview.com\/x\/z4pKof3M\/\" alt=\"Bitcoin\" width=\"1480\" height=\"893\"><figcaption class=\"wp-caption-text\">BTC trading at $59,141 on the daily chart | Source: BTCUSDT chart on Tradingview.com<\/figcaption><\/figure>\n<div class=\"disclaimer-shortcode\">\n<div class=\"disclaimer-shortcode\"><em>Featured image from The Economic Times, chart from Tradingview<\/em><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The month of August has been largely uneventful for Bitcoin so far, with the premier cryptocurrency having struggled to reclaim the $65,000 price mark since August 2. Currently, Bitcoin is slightly below $60,000 as the bulls and bears seek to grab control in what has been a range-bound market for the past week. Interestingly, CryptoQuant analyst XBTManager has shared revelations that indicate the BTC market is likely to maintain its current bearish form for the time being. Related Reading: Bitcoin Bears in Control? Record Low Funding Rates on Binance Signal Market Shift Wide Spot-Perpetual Gap Spells Trouble For Bitcoin On August 16, XBTManager reported that Bitcoin\u2019s Spot-Perpetual Price Gap, as tracked on the Binance exchange, is continually in a negative form indicating that the asset may record more price loss due to a sustained selling pressure.\u00a0 For context, a Spot-Perpetual Price gap occurs when there is a difference between the valuation of Bitcoin on the spot market which deals with the asset\u2019s actual price, and on the perpetual markets which allow traders to deal in speculations of the Bitcoin\u2019s future price. When the perpetual price is lower than the spot price as in the current case of Bitcoin, it indicates traders are massively offloading the asset in the perpetual futures market as they believe there could be an incoming price fall.\u00a0 Expectedly, XBTManager predicts this negative spot-perpetual gap will translate into a heightened selling pressure in the spot market as several traders will look to sell their assets and buy in the perpetual market thus taking advantage of the arbitrage to gain some profit.\u00a0 In the advent of such a reaction, deep liquidation hunts might occur i.e. where a large number of leverage positions are forcefully closed down, leading to a larger negative Spot-Perpetual Gap, and increased selling activity.\u00a0 However, XBTManager has noted a potential positive for Bitcoin in this uncanny situation. The analyst states that high selling pressure will likely result in an accumulation of multiple short portions on Bitcoin.\u00a0Therefore, the instance of a sudden price gain might force these positions to close leading to some significant buying activity that could reduce the current negative Spot-Perpetual Price gap. Related Reading: Bitcoin Still At Risk Of Further Correction, CryptoQuant Head Says BTC Price Overview At the time of writing, Bitcoin trades at $58,981 with a 2.28% gain in the past day. However, the token\u2019s daily trading volume is down by 16.37% and is valued at $29.5 billion. On larger time frames, Bitcoin also remains in the red zone with a loss of 2.92% and 8.76% over the last seven and thirty days respectively.\u00a0 Featured image from The Economic Times, chart from Tradingview<\/p>\n","protected":false},"author":581,"featured_media":605359,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[343,428,1144,78790,83531,92904],"class_list":["post-636125","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bearish-market","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-cryptoquant","tag-spot-perpetual-gap"],"acf":[],"yoast_head":"\n<title>Bitcoin Spot-Perpetual Gap Points to Continued Selling Pressure - Analyst<\/title>\n<meta name=\"description\" content=\"XBTManager has shared revelations that indicate the Bitcoin market is likely to maintain its current bearish form for the time being.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-spot-perpetual-gap-points-to-continued-selling-pressure-analyst\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Spot-Perpetual Gap Points to Continued Selling Pressure - Analyst\" \/>\n<meta property=\"og:description\" content=\"XBTManager has shared revelations that indicate the Bitcoin market is likely to maintain its current bearish form for the time being.\u00a0\" \/>\n<meta property=\"og:url\" content=\"https:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-spot-perpetual-gap-points-to-continued-selling-pressure-analyst\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2024-08-17T11:00:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-08-17T07:53:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/04\/bitcoin-crashes-60-will-the-cryptocurrency-crumble-or-come-back-with-a-vengeance.jpg?fit=1200%2C900\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Semilore Faleti\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/SemiloreFaleti\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Semilore Faleti\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-spot-perpetual-gap-points-to-continued-selling-pressure-analyst\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-spot-perpetual-gap-points-to-continued-selling-pressure-analyst\/\"},\"author\":{\"name\":\"Semilore Faleti\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/6280b76d69630ffb2f2fa78670d85d49\"},\"headline\":\"Bitcoin Spot-Perpetual Gap Points To Continued Selling Pressure &#8211; 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Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative. Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information. Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets. Outside his work, Semilore possesses other passions like all individuals. 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While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency. Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems. In two years of active crypto writing, Semilore has covered multiple aspects of the digital asset space including blockchains, decentralized finance (DeFi), staking, non-fungible tokens (NFT), regulations and network upgrades among others. In his early years, Semilore honed his skills as a content writer, curating educational articles that catered to a wide audience. His pieces were particularly valuable for individuals new to the crypto space, offering insightful explanations that demystified the world of digital currencies. Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative. Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information. Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets. Outside his work, Semilore possesses other passions like all individuals. 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His dedication to demystifying digital assets and advocating for their adoption, combined with his commitment to social justice and political engagement, positions him as a dynamic and influential voice in the industry. 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