| What to Know: – Multiple datasets show Bitcoin sell pressure abating, though conditions remain fragile. – Exchange microstructure and ETF flows point to lighter immediate supply. – Coinbase-linked selling eases even as spot activity hits yearly lows. |
Multiple datasets indicate Bitcoin’s recent wave of sell orders is abating, though conditions remain fragile. Exchange microstructure and ETF flow readings point to lighter immediate supply.
As reported by NewsBTC via TradingView, spot trading activity has fallen to its weakest level of the year even as Coinbase-linked selling pressure eases. Thin volumes can amplify moves in either direction, so moderation in selling does not eliminate downside risk.
In U.S. markets, spot Bitcoin ETF demand has turned positive in recent sessions. As reported by Decrypt, the cohort drew about $506 million in net inflows while the Coinbase premium flipped back to positive, signaling firmer stateside bid depth versus offshore venues.
Separately, CoinMarketCap Academy reports BlackRock’s iShares Bitcoin Trust (IBIT) led with roughly $297 million of that demand, with additional contributions from Bitwise and Fidelity. Leadership from IBIT suggests institutional interest persisted despite recent drawdowns.
Based on data from CryptoQuant, average daily sell-pressure on major exchanges has declined from roughly 81,000 BTC to about 29,000 BTC, while exchange reserves continue to fall. Lower on-exchange supply can tighten immediate sell-side liquidity, though it does not preclude further drawdowns if demand weakens.
Some institutions caution the relief could be temporary if supports fail or macro conditions tighten. “We think further capitulation is likely, rather than new buyers stepping in soon,” said Geoff Kendrick, digital assets research chief at Standard Chartered.
At the time of writing, Bitcoin trades near $67,787, with short-term sentiment readings described as bearish and a 14-day RSI around 42 on compiled market dashboards. These signals are contextual and do not guarantee trend continuation. This article is for information purposes only and is not financial advice.
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