Bitcoin is currently sitting at important support range. Structurally speaking while it trades consistently above 32k leans more bullish in near term.
Swaps & Futures
The market sentiment is generally bearish. We can observe the sentiment coming from the swaps which consistently trade bellow spot.
Other way to interpret this is that spot markets are bullish but degenerate derivatives sellers are bearish.
I would put more emphasis in the fact that the market is always naturally bullish by default. Any evidence of bearishness coming from derivatives that doesn't align with spot, generally end up favouring the bull side. A potential target is the upper range at 45k range
We keep seeing Perpetual Swaps basis trading negative to spot.
In picture bellow we compared Swaps vs Coinbase, Binance, FTX, Bitfinex and the Tradingview's own Index