Bitcoin Defies Gravity at $114K—Can Dwindling Sell Pressure Spark the Next Rally?
Bitcoin's clinging to $114,000 like a Wall Street trader to their bonus—but the real question isn't just about holding, it's about breaking free.
Market Mechanics: The Sell-Side Slowdown
Exchange reserves are drying up faster than liquidity in a meme stock frenzy. Fewer coins up for grabs could mean sellers are exhausted—or just waiting for a better exit.
The Psychology of Resistance
Every whale hodling at this level is another brick in Bitcoin's support wall. But as any crypto vet knows: walls get shattered when leverage floods the system.
Macro Whispers
Traders are eyeing Fed policy like hawks—because nothing moves crypto like cheap money looking for a home. The irony? Bitcoin was meant to escape this circus.
The Bottom Line
This isn't 2021's speculative fever dream. Institutions are in, derivatives are deep, and $114K might just be the launchpad for Bitcoin's next act—assuming traditional finance doesn't screw it up first.
Bitcoin Investor Selling Cools Down
This week, Bitcoin’s supply in profit dropped below the 95% threshold, which has historically indicated a market top. For over a month, Bitcoin’s supply remained within the 95% profit zone, signaling an overly bullish market.
Typically, this creates increased selling pressure as the market saturates with optimism. With the supply in profit now down to 92.5%, that pressure is starting to ease, potentially signaling a shift toward more neutral or positive momentum.
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The net position change on exchanges recently reached a four-month high, reflecting the effects of the market top conditions. The increase in exchange balances typically signifies higher selling activity, driven by the market’s inability to sustain bullish momentum.
However, this recent selling trend seems to be losing steam. The uncertainty surrounding upcoming events, such as Trump’s tariff decisions, is likely causing hesitation in the market.
With the selling pressure declining, Bitcoin could now enter a phase of consolidation. This provides an opportunity for BTC to recover its lost ground, especially as the broader market stabilizes.
BTC Price Is Hanging On
Bitcoin’s price is currently at $114,337, facing bearish pressure. The Parabolic SAR is above the candlesticks, suggesting downward momentum. However, the 50-day exponential moving average (EMA) is still holding strong as support, indicating that broader market sentiment isn’t entirely negative. bitcoin may continue to consolidate, finding stability above the $110,000 level.
Given the current factors, Bitcoin’s price is likely to consolidate within the $110,000 range for now. If Bitcoin can break through the $115,000 level and secure it as support, a potential rise to $117,261 is possible. However, surpassing $120,000 seems unlikely in the NEAR future.
Should the market experience bearish pressures due to external factors like the upcoming tariff announcements, Bitcoin could face further declines. If it loses the $111,187 support, Bitcoin may fall to $109,476, with the potential for further weakness. If Bitcoin breaches $110,000, the bullish or neutral outlook could be invalidated.
