In summary
Supply chain data shows that BTC spot and futures traders are ramping up sell-offs, while key indicators signal increasing bearish pressure.
Spot Taker CVD has switched to red after several months of strong buying dominance, while the futures buy/sell ratio fell to 0.91, confirming seller dominance.
BTC is trading at $112,906 with support at $111,920, but breaking this level could lower the price to $109,267 if sales continue.
Bitcoin may be preparing for a new decline as blockchain data signals sustained selling pressure. A recent report from CryptoQuant shows an increase in sales among spot and futures traders.
If this trend continues, BTC risks dropping below the critical mark of $110,000.
Selling pressure on bitcoins is increasing.
Bitcoin faced a surge of sell-offs from both spot and futures traders, as evidenced by two key indicators — the accumulated Taker Delta volume (CVD, 90 days) and the buy/sell ratio of takers.
The Spot Taker CVD indicator, tracking buyer or seller dominance in the market, has switched to the red zone after several months of buyer dominance. This change signals a resumption of selling pressure, which historically preceded corrections.
This reflects a decrease in aggressive buying interest and an increasing willingness of BTC spot traders to sell positions, signaling market exhaustion.
Moreover, according to the report, the buy/sell ratio of takers to bitcoin has decreased to 0.91, dropping below the long-term baseline level of 1.0. This means that sell orders now consistently outweigh buy orders in the futures market for this coin.
The asset buy/sell ratio measures the relationship between buying and selling volumes in the futures market. Values above one indicate that buying volume exceeds selling volume, while values below one indicate that more futures traders are selling their assets.
This confirms the growing selling pressure and weakening sentiment, which could exacerbate the decline in BTC price if it continues.
Will the support level of $112,000 provoke a new rise?
At the time of publication, $BTC is trading at $112,906, above the support level of $111,920. If demand increases and the price strengthens, this could lead to an increase in BTC price to $115,764. Successfully breaking this level could pave the way for growth to $118,922.
Conversely, if selling pressure intensifies, BTC risks falling below $111,920 and reaching $109,267.
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