TLDR
- Perpetual futures funding rates have transitioned to positive territory, reflecting bullish trader positioning.
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Increased Bitcoin deposits to trading platforms could indicate upcoming sell-side pressure.
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Market participants are positioning for near-term gains as buying activity surpasses selling.
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On-chain analytics suggest Bitcoin could struggle to break through $75,000-$85,000 zone.
Market participants have adopted an increasingly optimistic stance on Bitcoin as the Federal Reserve prepares to announce its interest rate policy, CryptoQuant reports. The blockchain intelligence platform has detected a surge in long position activity within perpetual futures markets, suggesting traders anticipate continued upward momentum in the near term.
According to Julio Moreno, who leads research at CryptoQuant, Bitcoin funding rates transitioned from “extremely negative” territory to “mostly positive” during the March 13-15 period. This transformation indicates market participants are now paying premiums to establish and hold long positions—a development typically interpreted as evidence of growing market confidence.
Traders are turning bullish ahead of the Fed.
Shorts were cleared as BTC reclaimed $70K, with fresh longs building above $73K.
Positioning has flipped. Long positions are now dominating the perpetual futures market. pic.twitter.com/O3xjvBGoZf
— CryptoQuant.com (@cryptoquant_com) March 17, 2026
The analytics firm further observed that purchasing volume within perpetual futures trading has exceeded selling activity. For both Bitcoin and Ethereum, the buy-to-sell order ratio has consistently maintained levels above 1, demonstrating strengthening demand. This increased acquisition activity supports the thesis that market participants are positioning for upward price movement ahead of the Federal Reserve’s upcoming policy announcement.
Critical Resistance Zones Identified at $75,000 and $85,000
While trader sentiment leans bullish, CryptoQuant has highlighted potential obstacles to continued price appreciation. The firm’s analysis indicates that Bitcoin could encounter significant resistance near $75,000, a threshold that has historically functioned as a ceiling during bearish market conditions. This price point aligns with the lower boundary of the Traders’ On-chain Realized Price metric (represented by the dotted blue line).
The analysis identifies an additional resistance barrier in the vicinity of $85,000. This threshold corresponds to the Traders’ On-chain Realized Price indicator (shown as the violet line), which has previously functioned as an impediment during earlier rallies. This level notably served as resistance during January 2026 when Bitcoin climbed from $80,000 to reach $98,000.
“Should Bitcoin continue to rally, it could first encounter resistance at the $75,000 level. If it manages to break through that, the next level of resistance would be around $85,000,” Moreno wrote in a report published on March 17.
Exchange Deposit Surge Suggests Possible Distribution Activity
CryptoQuant’s monitoring has detected a substantial uptick in Bitcoin transfers to cryptocurrency exchanges, potentially signaling forthcoming selling activity. Exchange inflows reached 6,100 BTC per hour on March 16, marking the highest rate observed since February 20, 2026. Significantly, large-scale deposits represented 63% of total inflows—the highest proportion recorded since at least October 15, 2025.
Generally, substantial transfers to exchanges correlate with heightened distribution activity, as market participants commonly move holdings to trading venues in preparation for liquidation. This pattern could exert downward price pressure should traders proceed to execute sales of their positions.
Moreno noted that such spikes in exchange-bound transfers may generate near-term selling pressure, particularly if Bitcoin’s valuation continues ascending. Nevertheless, should buying momentum prove sufficiently robust to absorb this potential selling activity, Bitcoin may successfully penetrate the resistance thresholds previously outlined.
