Bitcoin continues to trade above the $80k mark, showing a decrease in selling pressure.
Bitcoin Market Stability
Bitcoin has been hovering around $83,000 for several days. The recent drop to this level was triggered by increased selling pressure. However, there is now a noticeable decrease in this pressure.
Decrease in Selling Pressure
Crypto analyst Adler reported a significant drop in Bitcoin selling activity. The decline in the Sell-Side Risk Ratio indicates reduced selling pressure, possibly signaling the start of an accumulation period and price stabilization.
Bitcoin Price Updates
Today, Bitcoin strengthened its movement, trading above the $86k mark, with current trading at $87,385. The asset's price has increased by 3.6% in the past 24 hours, showing growth over the past two weeks.
The decrease in selling pressure and positive economic outlook could provide a foundation for possible future Bitcoin price growth.
