Gate News, March 18 — On-chain data analysis firm CryptoQuant states that ahead of the Federal Reserve’s upcoming interest rate decision, derivatives market traders are showing a clear bullish sentiment. However, if Bitcoin continues to rise, it may face resistance between $75,000 and $85,000.
CryptoQuant’s Head of Research, Julio Moreno, points out that recently, long positions in the perpetual contract market have increased significantly, indicating that traders generally expect short-term prices to continue rising. As Bitcoin breaks above $70,000, many short positions are being liquidated, while new long positions are being established above $73,000.
At the same time, funding rates also reflect a shift in market sentiment. The funding rate for Bitcoin perpetual contracts was deeply negative before March 13 but turned mostly positive starting March 15, suggesting traders are willing to pay fees to maintain long positions. Ethereum’s funding rate has also mostly remained positive since March 9.
However, CryptoQuant notes that if Bitcoin continues to rise, the first resistance may be around $75,000, which corresponds to the on-chain realized price support level. The next significant resistance zone is near $85,000, a level that previously acted as resistance during the October 2025 and January 2023 upward rallies.
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