Key Insights:
- Bitcoin’s CVD indicator reveals a large net selling trend, indicating more sellers than buyers.
- There is no sell wall until Bitcoin reaches $126K, leaving space for upward price movement.
Bitcoin CVD Indicator Shows Net Selling
The Bitcoin CVD (Cumulative Volume Delta) indicator points to a large net selling. A notable decline in Bitcoin’s price occurred yesterday, triggering a wave of selling. Despite this, brown whales have remained active, selling only small amounts.
Their actions suggest they are maintaining a buying trend rather than following the broader market’s sell-off. The overall market is showing heavy selling, but brown whales have not yet joined the trend. This could imply that a specific group of investors is not concerned by the current downturn.
No Sell Wall Until $126K
According to reports, there is no significant sell wall until Bitcoin reaches $126K. This means that large buy orders may not encounter heavy resistance at lower price levels.
The absence of a sell wall suggests that Bitcoin may face less resistance in its upward movement once it recovers from the current decline. The lack of such walls could create room for Bitcoin to gain momentum if buying pressure increases.
