Crypto analytics firm Alphractal just dropped fresh data on the Bitcoin market! According to their latest assessment, selling pressure from miners has dropped to its lowest level since 2024 โ definitely a bullish signal! ๐
The metric called โMiner Selling Pressureโ tracks how much BTC miners are offloading. It compares BTC outflows over the past 30 days to the average miner reserves during the same period. A low value means miners are holding their coins, which is generally a positive sign for Bitcoinโs price! ๐ข
However, Alphractal did issue a warning: resale pressure could pick up in the coming weeks, depending on where the price moves.
Even though Bitcoin has surpassed $103,000, open interest in futures remains weak โ sitting at $61.3 billion, compared to over $68 billion when BTC was at similar price levels in the past. This shows a decline in leveraged trading and market maker activity, likely due to recent liquidations and position closures. ๐
In the short term, whales (large investors) are closing their long positions, which could be a signal of a potential market shift. If the โWhale Position Trendโ metric continues to fall, the market may either move sideways or enter a correction phase. โ ๏ธ
Stay alert and ready โ the crypto market never sleeps! #BTC #Bitcoinโ #Binance #BinanceSquareFamily #crypto