Looking at just one day’s data can be misleading; looking at several days gives a more accurate picture.
For example: Fed’s Hammack: The Fed needs to raise interest rates to achieve a restrictive monetary policy, $BTC , trading volume: 1.033 billion.
This is somewhat negative and could hurt short-term confidence. The key is whether selling pressure continues.

This is not a recommendation to buy or sell in any form. You are responsible for your own gains and losses.