Bearish warning as sell-side pressure persists despite Bitcoin surge - on-chain data shows

09/18/2023 21:00
Bearish warning as sell-side pressure persists despite Bitcoin surge - on-chain data shows

Despite Bitcoin's jump over $27,000, sell-side dominance persists, signaling a cautious market that's bent on taking profits.

Bearish warning as sell-side pressure persists despite Bitcoin surge – on-chain data shows Bearish warning as sell-side pressure persists despite Bitcoin surge – on-chain data shows 47 seconds ago · 3 min read

Despite Bitcoin's leap, sell-side dominance persists, signaling cautious market sentiment.

3 min read

Updated: September 18, 2023 at 2:41 pm

Bearish warning as sell-side pressure persists despite Bitcoin surge – on-chain data shows

Cover art/illustration via CryptoSlate

As Bitcoin fights its way back over $27,000, a closer look at on-chain data reveals a prevailing sell-side regime in the market. Despite the price increase, it appears that traders are cashing in, but why? With an understanding of buy-side and sell-side exchange inflows, we can assess the market sentiment. Bitcoin and Ethereum inflows indicative of sell-side pressure, and stablecoin inflows pointing to buy-side pressure. But as we dig deeper, a shift in the market reveals...

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