There are no signs of a bottom in the Bitcoin market, and the options market reflects ongoing concerns about a downward trend

Savvy traders are looking for signs of surges in spot and perpetual futures trading volumes, as well as negative shifts in funding rates to determine market crashes and price bottoms. However, such signs are yet to be seen in the Bitcoin market, with the options market reflecting ongoing concerns about extending bearish trends. Since the US began trading Bitcoin spot ETFs on January 11th, Bitcoin (BTC) has fallen by 18%, down to $40,000. Traders seeking clues for the lowest price marking a new bullish trend or a market bottom may need to pay attention to actual and emotional surrender signals in the market along with positioning within the options market. Currently, there is no sign of capitulation in the bitcoin market. Data from TradingView shows that although trading volumes have risen slightly on both bitcoin's perpetual and spot markets they remain far below recent highs. Meanwhile according to Coinglass data, funding rates remain positive indicating leverage still favors bulls.