Bitcoin News: Binance Bitcoin Futures See $1B Surge in Open Interest as BTC Forms Bearish Pattern

Bitcoin futures activity on Binance has spiked by over $1 billion, hinting at increased bearish bets as BTC struggles to maintain key support levels.Rising Open Interest Signals Bearish SentimentBitcoin (BTC) experienced a sharp overnight dip, dropping below $92,000—a level that has been repeatedly tested since December. This latest decline coincides with a 12,000 BTC rise in open interest on Binance's BTC/USDT perpetual futures, signaling an influx of new short positions.Data from Coinglass also highlights that the cumulative volume delta (CVD) for both futures and spot markets has turned negative, reinforcing the idea that selling pressure is outpacing buying activity.  CVD serves as a key market liquidity indicator, where positive readings suggest buyer dominance and negative readings indicate a market favoring sellers.Bitcoin Prints Bearish Marubozu CandleMonday’s trading session saw Bitcoin drop 4.86%, forming a bearish marubozu candlestick pattern—a strong signal of continued downside momentum.A bearish marubozu candle is characterized by a large red body with little to no wicks, meaning sellers controlled price action throughout the session.BTC is currently trading below key 50-day and 100-day SMAs, which could further embolden bearish traders.  Key Support and Resistance LevelsWith seller dominance increasing, analysts are watching key technical levels:Support: First major support sits at $89,200 (January 13 low), followed by the 200-day SMA at $81,661.Resistance: On the upside, BTC would need to break past $99,520 (February 21 high) to shift sentiment bullish.BTC Faces Increased Bearish PressureThe sharp rise in Binance futures open interest, negative CVD, and bearish candlestick formation all point to the growing downside risk for Bitcoin. If BTC fails to hold current support levels, a potential retest of $89,200 or lower could be on the horizon. Traders will closely monitor upcoming price action to see if BTC bulls can regain control, according to CoinDesk.