Bitcoin ‘Sales Pressure’ Building Up — What This Means

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Bitcoin ‘Sales Pressure’ Building Up — What This Means - NewsBTC

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However, the Bitcoin price has been displaying strength despite the brewing global trade war weighing down on the US equities market.Adler Jr.attributed BTC’s show of resilience to institutional buying, the lack of sales pressure in the spot market, and neutral sentiment in the futures market.

Based on the NUPL and SOPR indicators, the Bitcoin Sales Pressure model tracks when long-term holders may begin selling off their assets, often marking cyclical tops or the start of downward pressure in the market.According to Adler Jr., genuine sales pressure for a digital asset may emerge after 800 days.

Nonetheless, the Bitcoin market has remained relatively steady compared to the blue-chip stocks in the US equities market over the past few days. The price action of Bitcoin has been disappointing yet again this weekend, slipping below the $83,000 mark in the early hours of Saturday, April 5.