[CryptoQuant: Bearish Sentiment Dominates Bitcoin Futures Market, Selling Pressure Hits 3-Month High] CryptoQuant analysis indicates that Bitcoin's current price is fluctuating within the $62,000-$68,000 range, with futures market funding rates consistently negative, reflecting bearish sentiment dominating the market. Since July 2025, the market has been primarily driven by selling pressure, which has now reached its highest level in three months. The futures market has maintained high leverage for 16 consecutive months, with excessive leverage decreasing since Bitcoin's last historical peak. Analysts believe that the price decline has led some investors to close positions, improving the market's leverage health, which could be a positive signal in the long term.