Bitcoin Defense Line
According to the data in the chart, the current outlook requires caution in the short term. Looking back, most of the red dots that appeared on the chart came after price peaks or intermediate pullbacks, and then downward movements accelerated. This suggests that whales may be viewing rallies as opportunities to sell.
Institutional Netflow is weakening. This strengthens the possibility of transfers of #BTC to exchanges and preparations for selling.
OTC buy-side liquidity is not as strong as before. Recently, buy volumes have fallen noticeably. This could mean that strong institutional demand, which would otherwise reduce selling pressure, has weakened. In the current picture, there does not yet appear to be a strong new accumulation signal. Therefore, it may be too early to say that the decline has ended.
In summary, whales are following a sell-dominant path in #Bitcoin. Institutional net inflows are weakening. On the OTC side, strong buyer support has decreased compared to before. As a result, there appears to be a high likelihood that downward pressure will continue in the short term. When assessed on its own, this indicator shows that the market is still behaving defensively and avoiding risk. $BTC
According to the data in the chart, the current outlook requires caution in the short term. Looking back, most of the red dots that appeared on the chart came after price peaks or intermediate pullbacks, and then downward movements accelerated. This suggests that whales may be viewing rallies as opportunities to sell.
Institutional Netflow is weakening. This strengthens the possibility of transfers of #BTC to exchanges and preparations for selling.
OTC buy-side liquidity is not as strong as before. Recently, buy volumes have fallen noticeably. This could mean that strong institutional demand, which would otherwise reduce selling pressure, has weakened. In the current picture, there does not yet appear to be a strong new accumulation signal. Therefore, it may be too early to say that the decline has ended.
In summary, whales are following a sell-dominant path in #Bitcoin. Institutional net inflows are weakening. On the OTC side, strong buyer support has decreased compared to before. As a result, there appears to be a high likelihood that downward pressure will continue in the short term. When assessed on its own, this indicator shows that the market is still behaving defensively and avoiding risk. $BTC