Bitcoin derivatives traders on Binance showed a sharp shift toward aggressive selling, with Net Taker Volume falling to -$440 million following the release of the U.S. August PPI data.

The broader change in trader behavior is even clearer in Cumulative Net Taker Volume.

CVD fell from $5.77 billion on August 21 to $2.67 billion today, a decline of roughly $3.1 billion, or 54%.

Yet Binance Bitcoin Open Interest remained relatively stable over the same period, easing from about $4.9 billion to $4.7 billion, a decline of only around 4%.

This creates a notable divergence: aggressive taker flow among derivatives traders deteriorated sharply while the overall amount of open derivatives positions changed very little.

In percentage terms, the decline in CVD was more than 13 times larger than the drop in Open Interest.

The latest -$440 million Net Taker Volume is also around 17% more negative than the -$376 million reading recorded on September 4, showing that sell-side taker activity among derivatives traders has intensified.

The move coincided with renewed macro uncertainty following the U.S. PPI release.

Derivatives traders on Binance turned noticeably more aggressive on the sell side as markets reevaluated the outlook for inflation and interest rates.

Despite this shift in derivatives trader behavior, Bitcoin has remained near $77,000, while Open Interest has stayed within a relatively narrow range.

This indicates that the increase in aggressive selling has not been accompanied by a comparable reduction in open positions or a similarly sharp decline in price.

For now, the clearest signal is the change in derivatives trader behavior: Bitcoin CVD among Binance traders has fallen more than 54% since August 21, while Open Interest has declined just 4%, pointing to a pronounced bearish shift in aggressive derivatives flow without a broad leverage reset.

Written by Amr Taha