BTC Investors’ Selling Pressure Eases: Latest Insights from Bitfinex on Bitcoin (BTC)
- Bitcoin’s price recovery could be imminent as selling pressure from market participants appears to be slowing down.
- A recent weekly report from Bitfinex indicates that on-chain indicators suggest a decrease in selling pressure from short-term holders.
- The Bitcoin Fundamental Index (BFI), which evaluates several aspects of the network’s health, is at an inflection point, suggesting a potential upward movement for BTC.
Bitcoin’s price recovery could be on the horizon as selling pressure from market participants slows down, according to a recent report from Bitfinex.
Bitcoin Selling Pressure May Be Waning
Since BTC reached its all-time high in March, its trajectory has been largely bearish, with a new local low of $56,500. A key indicator of this bearish trend is the spike in the Exchange Whale Ratio, which shows that whales have been making large deposits in crypto exchanges, likely to sell and realize profits. Once this ratio stabilizes, it suggests that long-term holders and whales have finished distributing their supply, preventing further corrections. Short-term holders, who often trigger significant market responses, currently dominate selling pressure, as indicated by the Realized Loss metric.
