Bitcoin Exchanges Spot Early Signs of Recovery as Market Sentiment Remains in the Red
February 12 2026 – Cointelegraph
Summary
- On‑chain data from CryptoQuant shows Binance’s seven‑day net taker flow turning positive for the first time in a month, indicating a modest shift away from aggressive selling.
- The broader market still registers “Extreme Fear” on the Crypto Fear & Greed Index, which dropped to a record‑low 5/100 on Tuesday.
- The Coinbase Premium Index remains largely negative, suggesting U.S. spot demand is still weaker than Asian markets.
- Bitcoin is trading roughly 20 % above its 15‑month trough near $59 000 but faces a key resistance level around $69 000.
Net Taker Flow Moves Into Positive Territory
CryptoQuant’s latest on‑chain metrics revealed that Binance’s cumulative net taker flow—a measure of the net value of market buy orders versus sell orders over a seven‑day window—has reversed from a deep negative stance to a modest surplus of about $320 million. The metric had been hovering near ‑$4.9 billion in early February, reflecting dominant seller pressure across major exchanges.
According to CryptoQuant contributor Crazzyblockk, the turnover in the net‑flow ratio from roughly ‑3 % to a positive reading signals a “clear decline in sell‑side aggression.” While the magnitude of the shift is still limited, the trend appears consistent across other large venues, with Binance showing the most pronounced improvement relative to its peers.
Price Action Persists Near Recent Lows
Bitcoin’s price has steadied around the $59 000 mark, roughly 20 % above the trough that formed over the past 15 months. The stabilization has occurred despite the pervasive “Extreme Fear” sentiment captured by the Crypto Fear & Greed Index, which fell to 5 / 100, the lowest level recorded by the gauge.
Technical analysts note that the next hurdle for the cryptocurrency lies at the $69 000 resistance zone, a level that has acted as a ceiling since the 2021 bull market peak. A breakout above this threshold could encourage fresh buying, while failure to clear it may keep the market range‑bound for the near term.
US Spot Demand Remains Subdued
The Coinbase Premium Index—derived from the price differential between Coinbase’s BTC/USD pair and Binance’s BTC/USDT pair—continues to sit in negative territory. A negative premium traditionally points to weaker U.S. spot demand compared with Asian markets.
QCP Capital, a trading firm that monitors cross‑exchange flows, interpreted the modest narrowing of the premium as a “moderation in U.S.–led spot selling pressure.” Nonetheless, the firm cautioned that the overall sentiment landscape is fragile, highlighting that the Crypto Fear & Greed Index’s extreme‑fear reading reflects “thin ice that happens to be holding.”
Analysis
The convergence of a positive net taker flow on Binance and a steadier price action suggests that the market may be edging toward a short‑term equilibrium. However, several factors temper optimism:
- Sentiment Lag: The Crypto Fear & Greed Index remains at historically low levels, indicating that trader confidence has not yet caught up with the on‑chain data.
- Geographic Imbalance: The persistent negative Coinbase Premium underscores a regional demand gap that could reignite pressure on the price if U.S. spot buying does not rebound.
- Resistance Barrier: The $69 000 level continues to serve as a psychological and technical ceiling; a failure to breach it could lead to renewed downside pressure.
Taken together, the data paint a picture of a market in the early stages of stabilization rather than a full recovery. Continued monitoring of taker flow, premium differentials, and sentiment metrics will be crucial for gauging whether the recent positive shift can sustain upward momentum.
Key Takeaways
- Net Taker Flow: Binance’s 7‑day net taker flow turned positive (+$320 M) after a month of deep selling, the first such reversal since early February.
- Sentiment: The Crypto Fear & Greed Index plunged to a record low of 5, reinforcing a climate of extreme fear despite modest price stabilization.
- Premium: The Coinbase Premium Index stays largely negative, indicating weaker U.S. spot demand relative to Asian markets.
- Price Outlook: Bitcoin holds near $59 000, with the $69 000 resistance level remaining a critical test for any near‑term rally.
This article is for informational purposes only and does not constitute investment advice. Readers should conduct their own research and consider the risks associated with cryptocurrency trading.
Source: https://cointelegraph.com/news/crypto-sentiment-sees-record-low-as-binance-teases-bitcoin-stabilization?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound
