Bitcoin’s price movement remains in focus as it continues to consolidate just below its previous all-time high. Despite a brief surge that brought it within range of its $111,000 peak, the asset has struggled to establish a breakout.
As of the time of writing, Bitcoin is trading around $108,927, representing a 0.2% increase over the past 24 hours. The persistence of this consolidation phase comes amid growing market discussions around spot and derivatives behavior.
Binance Spot-Perpetual Delta Reflects Cautious Leverage
One of the more notable on-chain observations comes from CryptoQuant contributor BorisVest, who analyzed the prolonged negative delta between spot and perpetual prices on Binance. According to the analyst, this delta has remained in negative territory
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