CryptoQuant analyst Axel Adler stated that the Bitcoin Derivative Market Power indicator has decreased from 41% to 13%, indicating a weakening of bullish momentum in the Bitcoin derivative market, but the market has not yet fully turned bearish. The price of Bitcoin remains around 63900 US dollars, indicating strong market capacity. Axel Adler believes that the market needs to pay attention to changes in the flow of derivative funds. If the indicator falls into negative territory, bearish forces will dominate. If prices remain stable, it reflects that spot demand is still supporting the market.
