Recent trends in the cryptocurrency spot market reveal a continued dominance of sellers, raising concerns about the potential for a bullish reversal. The source notes that despite some easing in selling pressure, buyers have not yet managed to assert themselves convincingly.
Bearish Sentiment Dominates Market
Data from the spot taker CVD indicates that sell-side market orders have consistently outpaced buy orders over the past few months. This trend highlights a persistent bearish sentiment among traders, as the lack of strong bullish signals from buyers suggests that the market remains under the influence of sellers.
Stabilization in Prices
Although there has been a slight reduction in selling pressure, the absence of a significant bullish shift in CVD indicates that the recent stabilization in prices is primarily due to sellers slowing their activity rather than an influx of buying interest.
Future Outlook for Bitcoin
As a result, without sustained buying momentum, any potential rebound in Bitcoin's price is likely to be short-lived and corrective in nature. This leaves traders cautious about the market's immediate future.
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