Bitcoin selling Pressure Eases, Setting Stage for Price Consolidation
BitcoinS selling pressure has significantly decreased, hinting at a period of market consolidation in April and may. According to CryptoQuant analyst Axel Adler Jr., daily selling volume on major exchanges has plummeted from 81,000 BTC to 29,000 BTC. This decline suggests a potential supply shortage, with fewer sellers and steady demand.
Adler noted that the market has absorbed profit-taking waves after breaking above $100K. With sellers drying up, buyers appear more comfortable. This shift is mirrored in the futures trading market, where short positions surged after Bitcoin’s February all-time high but are now weakening.
Institutional investors are increasingly influencing Bitcoin’s price through exchange-traded funds. This makes the asset more sensitive to macroeconomic factors like Federal Reserve policies and inflation reports.
binance’s dominance in spot trading could also signal a bullish trend. cryptoquant analyst Joao Wedson pointed out that Binance’s trading volume is now eight times higher than Coinbase’s. Historically, when Binance leads in volume, Bitcoin experiences a price surge.
However, not all indicators point to immediate gains. Rising inflation and new tariffs could effect risk assets like Bitcoin.10x Research analysts forecast Bitcoin may fall below $80,000 this week due to multiple risk-off catalysts.
Currently, Bitcoin trades at $83,530, with a seven-day range between $81,488 and $88,240. Despite short-term risks, declining selling pressure suggests a stabilizing market, potentially setting the stage for the next move.
