At 84,100, selling pressure is easing, but liquidations are deepening.
According to CryptoQuant, Bitcoin fell from $85,500 to $83,900 in the early hours of October 7, then recovered to $84,100. Active buying and selling pressure rose from -4.9 to -3.1, suggesting sellers were backing off; liquidation pressure, however, plunged from -11 to -78, as long liquidations intensified. The former reflects people choosing to sell, which can stop; the latter is forced selling, which can accelerate. Is the indicator rebounding because buyers are back, or because sellers are running out of steam? No one answered the other half of the question either: how long does “sustained below 83,900” mean—hours or days? Without a timeframe, “deeper selling pressure” cannot be verified.
Back at 84,100: only if the price holds above it consecutively and the liquidation indicator narrows from -78 can this reading—“selling pressure is easing, but liquidations are deepening”—be considered invalidated.
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#BitcoinFallsBelow84000
According to CryptoQuant, Bitcoin fell from $85,500 to $83,900 in the early hours of October 7, then recovered to $84,100. Active buying and selling pressure rose from -4.9 to -3.1, suggesting sellers were backing off; liquidation pressure, however, plunged from -11 to -78, as long liquidations intensified. The former reflects people choosing to sell, which can stop; the latter is forced selling, which can accelerate. Is the indicator rebounding because buyers are back, or because sellers are running out of steam? No one answered the other half of the question either: how long does “sustained below 83,900” mean—hours or days? Without a timeframe, “deeper selling pressure” cannot be verified.
Back at 84,100: only if the price holds above it consecutively and the liquidation indicator narrows from -78 can this reading—“selling pressure is easing, but liquidations are deepening”—be considered invalidated.
Save the QR code and keep news and strategies in your hands at all times!
#BitcoinFallsBelow84000