Key Takeaways
It appears, against all odds and the best advice of your accountant, that Bitcoin is sporting a shiny new bull face. The on-chain confidence is puffing out its chest like an overzealous peacock, and the narrowing spot-derivatives gap is practically winking at market participants, hinting that they might actually know what they’re doing this time. Well, sort of.
Bitcoin [BTC], in an unexpected turn of events, may be readying itself for yet another spectacular rise, akin to a phoenix bursting dramatically from the ashes, or perhaps just a particularly caffeinated popcorn kernel.
Key metrics within the realm of on-chain and derivatives are sending out whispers of strength, much like a timid Jedi attempting to convince you of the existence of the Force. Meanwhile, those who own Bitcoin are gaining confidence faster than someone discovering a hidden stash of snacks.
With momentum bobbing around like a buoy in a storm, analysts are confidently (or perhaps just whimsically) claiming that a breakout might be just around the proverbial corner, which we all know can be a rather twisty path!
Profit-taking grows, but we’re not at euphoria yet
Lo and behold, BTC’s confidence is ascending rapidly, waving its metaphorical flag and suggesting we might be heading back toward those dramatic late-stage bull market antics that get everyone buzzing like they’re on free WiFi in a crowded café.
While current levels (hovering around 1.0 like a misty glob in early 2024) do remind us of those exhilarating days when bullishness danced like a caffeinated squirrel, they remain painfully far from the heights of euphoric insanity we witnessed in 2017 and 2021.
This suggests we might still have some room left to run before sentiment reaches that high-octane stage where you start cuddling your crypto and chanting “to the moon!”
Derivatives show caution, but that may soon change
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According to CryptoQuant, our trusted oracle of crypto wisdom, the Perpetual-Spot Price Gap on Binance is currently in the dreaded negative zone. A flashing neon sign that says: “Spot buyers are still leading the charge, possibly even to the nearest pancake shop!”
However, never fear! This gap has tightened dramatically over the last few weeks, having recovered from what can only be described as a prolonged existential crisis.

Historically, when this gap decides to flip positive – like a pancake finding its rightful place in the breakfast hierarchy during late 2020 or early 2021 – Bitcoin has historically taken a parabolic leap worthy of a superhero movie. Should Futures traders suddenly adopt a bullish outlook, this narrowing gap could serve as the spark for BTC’s impending ascension, which has more twists and turns than a plot in a space opera!
Price action points to strength, not exhaustion
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2025-07-15 06:19