Analysts say that bears dominate the bitcoin derivatives market, with bulls facing liquidation pressure

On April 3, CryptoQuant analyst Axel Adler Jr stated that the Bitcoin Position Index 30-day Simple Moving Average (SMA-30d) has continued to decline after reaching a local high of +3.0 on March 17, dropping to -3.1 today, reflecting the accumulation of short positions. During the same period, the price of Bitcoin fell from $74,883 to $66,603, indicating a weakening market structure. The Liquidation Oscillator rebounded to 18.6% in mid-March, showing that long positions have been continuously liquidated. If the 30DMA does not reverse downward, pressure on longs will persist, and the risk of the price falling below $66,000 will intensify. It is currently advised to avoid risk.