Bitcoin Reaches $97K on ETF Inflows, But Technical Signals Warn of Caution

Source: CoinTribune Original Title: Bitcoin Is Soaring, But A Technical Detail Worries The Markets Original Link: https://www.cointribune.com/en/bitcoin-is-soaring-but-a-technical-detail-worries-the-markets/ Bitcoin continues its remarkable rise, with its value now approaching $97,000, driven by $840 million in inflows into Bitcoin ETFs. However, several technical signals are urging crypto investors to exercise caution.

Bitcoin Boosted by ETFs, But Derivatives Markets Slow the Euphoria

Massive flows into Bitcoin ETFs have propelled the flagship cryptocurrency to its highest level in two months. On the surface, the market seems to breathe a new bullish air. But one indicator spoils the mood: the “delta skew” of options remains stuck at +4%.

This figure reflects the distrust of professional crypto traders, who continue to favor put options over long positions. The breakdown is clear: fear of a correction still dominates despite Bitcoin’s rise.

At the same time, traditional financial markets show signs of weakness. The Nasdaq struggles to gain height again, while U.S. bond yields slide to 3.51%. This return to the safety of Treasuries illustrates a global context of geopolitical risk and nervousness over volatility.

Even institutional investors, attracted by Bitcoin’s status as digital gold, hesitate to strengthen their positions.

BTC Price: Global Tensions and Derivatives Block the $105,000 Target

Bitcoin traders closely watch the $100,000 zone, considered a critical resistance level. Onchain data shows increased whale activity, often a sign of an imminent move. However, derivatives markets do not confirm this momentum.

Geopolitical concerns heighten this caution, with tensions related to trade policies and China reviving market stress.

In this tense climate, leveraged position liquidations have already exceeded $370 million—a record since October 2025! Even major institutional players choose caution, with record cash holdings demonstrating how much fear still dominates the economic landscape.

The price of Bitcoin continues to fascinate markets. That said, confidence remains fragile. As long as derivatives markets do not confirm a true bullish market, the road to $105,000 will remain strewn with obstacles.