In recent months, Bitcoin has shown stability in the $100,000–$110,000 range, despite aggressive selling pressure from short-term traders.
Increased Confidence Among Long-Term Holders
Data from CryptoQuant indicates that the Bitcoin outflow/inflow ratio has dropped to 0.9, signaling renewed long-term confidence. Inflows have significantly lagged outflows this month, typically indicating strong asset demand. This level hasn't been seen since the end of the bear market in 2022.
Resistance Against Short-Selling Pressure
Despite ongoing aggressive selling pressure, Bitcoin continues to hold its ground in a tight range. Cumulative Volume Delta data indicates consistent short-selling pressure, but the price's inability to break lower suggests that this flow is being absorbed, indicating accumulation.
Strategic Asset Repositioning
Recently, over 19,400 BTC were transferred into institutional wallets, highlighting strategic asset repositioning. These coins had previously remained dormant in wallets for three to seven years, underscoring the significance of this movement. Such actions often reflect strong demand.
Considering these factors, Bitcoin may be on the brink of forming a new market bottom around $100,000. If historical patterns hold, this could signal the start of a new bullish trend.
