Bitcoin's 'Long Dominance' Persists Despite Trading Volume Drop, $95,000 Resistance

# Cryptocurrency Market Enters Consolidation Phase After Recent Surge The cryptocurrency market is currently in a consolidation phase following a significant rally. In the derivatives sector, forced liquidation volumes have markedly decreased, trading activity has slowed, and a cautious sentiment is becoming prevalent among market participants, indicating a halt in speculative fervor. According to CoinGlass data on the 24th, total forced liquidations in the cryptocurrency derivatives market over the past 24 hours were approximately $328.24 million. This represents a 47.56% drop from the previous day, highlighting reduced market volatility and a trend among traders to unwind positions. During the same timeframe, overall derivatives trading volume decreased by 16.54%, amounting to $285.22 billion. This implies that market participants are taking a cautious approach, carefully evaluating the likelihood of further price increases. # Trading Sentiment by Exchange Further analysis of position ratios across exchanges reveals varying market sentiments. On Binance, the BTC/USDT pair's top trader long/short ratio was 1.45, indicating a strong preference for long positions. Similarly, OKX's BTC long/short ratio was 0.67, which also favors long positions. This suggests that professional traders may still consider short-term rebound opportunities. # Options Open Interest and CME Bitcoin Futures Simultaneously, open interest in options contracts increased by 4.49% from the previous day, reaching $42.68 billion. However, open interest in CME Bitcoin futures decreased by 4.28%, settling at $13 billion. These mixed trends highlight uneven convictions among institutional and retail players regarding the market's short-term direction. # Key Liquidity Zones According to CoinGlass’ liquidation map, key Bitcoin liquidity zones are concentrated between $94,000 and $96,000. This indicates that significant short liquidations could occur within this range, while also serving as a strong resistance zone for sellers. Support areas appear to be clustered around the $91,000 and $89,000 levels, where long positions are heavily concentrated. Market analysts view $95,000 as a critical psychological resistance level. A failure to break above this threshold may limit upward momentum, prompting caution among bullish participants.