Bitcoin futures demand spikes as price steadies near $63,000

Crypto analytics platform CryptoQuant reported that Bitcoin futures demand surged by roughly 425,000 BTC over a week, moving from a deep net‑short to a neutral position. The surge suggests renewed buying pressure from leveraged traders, while spot market demand stayed weak around a net‑short of 78,000 BTC, indicating limited new capital from long‑term investors.

The price reclaimed the $63,000 level, but traders are wary of a correction ahead of a large $1.4 billion options expiry on Deribit Friday. Rising U.S. 10‑year Treasury yields toward 4.6% have added pressure on risk assets. Options put‑to‑call ratios remain balanced, with calls above $62,500 totaling $137 million and puts above $61,000 about $121 million. A move above $63,500 before expiry could bolster bullish sentiment, while sustained weakness may keep price constrained.