In the past three days, the delta of BTC spot trading volume (7-day moving average) has sharply declined, indicating increased selling pressure:
🔻April 27: Down $30.9 million
🔻April 28: Down $76.1 million
🔻April 29: Down $193.4 million
The ongoing downward trend suggests that the market is currently dominated by sellers. Weakened spot demand may indicate profit-taking, buyer fatigue, or an early stage of a trend reversal. However, Bitcoin has not yet broken support, and the subsequent potential movement could be an upward false breakout that triggers short stop-losses before a thorough downward break.
🔻April 27: Down $30.9 million
🔻April 28: Down $76.1 million
🔻April 29: Down $193.4 million
The ongoing downward trend suggests that the market is currently dominated by sellers. Weakened spot demand may indicate profit-taking, buyer fatigue, or an early stage of a trend reversal. However, Bitcoin has not yet broken support, and the subsequent potential movement could be an upward false breakout that triggers short stop-losses before a thorough downward break.
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BTC
96,180.01
+1.05%
