The chart shows that BTC buyers have weakened in the short term. This suggests that sellers step in during every upward move within the sideways range. The fact that market sell volume on Binance is higher than buy volume is clear proof of this. The latest drop indicates that short term selling pressure has become more pronounced.

We can see that stablecoins’ purchasing power relative to Bitcoin has declined. Since this is happening while aggressive sell volume on Binance exceeds buy volume, it suggests that the ability of new purchases to absorb selling may be limited in the short term, which could increase downward pressure on the price.

The chart shows that short-term investors are spending their coins at a price slightly above their average cost. Since the SOPR value is just above 1, this could pave the way for profit taking; however, it is not evidence of panic selling at the current level. We can consider it only a factor that supports selling pressure.

In summary, the buyer seller flow has shifted in sellers favor in the short term. This could create downward pressure on the price, but confirmation from the price chart and key levels is needed before saying that the price has actually entered a downtrend. Given that many investors are above their cost basis, this scenario does not seem impossible.

Written by PelinayPA