Major Orders Release Important Signals: BTC Faces Significant Short-Term Pressure
The cryptocurrency market is like a battlefield without gunpowder, where the movement of funds serves as a signal of the battle between bulls and bears, constantly tugging at the hearts of investors. The data from the major orders over the past 12 hours clearly shows the severe situation BTC is currently facing.
According to the data, during these 12 hours, the transaction volume of major sell orders reached $279 million, while buy orders only amounted to $136 million, resulting in a net outflow of $143 million, with a buy-sell ratio of 1:2.05. This disparity is quite evident, clearly indicating that the major funds are particularly strong in their short-selling intentions, significantly increasing market pressure.
It is especially noteworthy that at 23:50 and 01:58, there were two sell orders at the level of tens of millions of dollars.
From a technical analysis perspective, the 1-hour candlestick chart also provides a lot of information. The BTC price is still holding above the EMA24 and EMA52 moving averages, which suggests it might hold on a bit longer.
Currently, the BTC price is at a critical support level. This support level is like an important stronghold on the battlefield, with both bulls and bears fighting desperately for control. It’s hard to say how the price will move in the future.
In such a complex situation, the movements of the major players have become key to determining the direction of the market. Every move of the major funds could lead to significant changes in the market.
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