Bitcoin’s $100K–$110K Range Sees ETF Inflows, Rising Shorts and Neutral Funding
Bitcoin has traded in a tight $100,000–$110,000 range for nearly a month, even as U.S. spot BTC ETFs saw $5.14 billion of net inflows over 30 days. Futures metrics turned cautious: the annualized two-month Bitcoin futures premium fell below 4%—its lowest since March—and the 25% delta skew in BTC options climbed to 5%, signaling bearish sentiment. On Binance, both long and short positions built up, with short interest rising faster amid Middle East geopolitical tensions. The funding rate remains near neutral, indicating balanced bulls and bears. Technical analysis highlights a potential inverse head & shoulders on the 3-day chart, while on-chain NVT ratio warns of overvaluation. Traders anticipate a breakout—some targeting $150,000—if liquidity holds. At press time, Bitcoin trades at $105,940, up 1.1% in 24 hours.
Neutral
The combined indicators paint a mixed picture: significant ETF inflows suggest institutional demand, while falling futures premiums and rising options skew signal bearish bets. Balanced long and short positions and a neutral funding rate point to indecision among traders. Technical patterns (inverse head & shoulders) hint at a bullish breakout, but on-chain NVT overvaluation warns of caution. Overall, Bitcoin’s price impact is likely neutral in the short term, with potential for a decisive move if market sentiment shifts.