BREAKING: Bitcoin's Selling Pressure Plummets - What's Next?

Consolidation Zone: Bitcoin's New Reality

Hang onto your hats, crypto fans! Bitcoin's selling pressure has just taken a nosedive, hinting at a wild ride of consolidation through April and May. Buckle up!

CryptoQuant's Axel Adler Jr. Drops the Bombshell

On April 1, CryptoQuant's own Axel Adler Jr. lit up X with a mind-blowing revelation: daily selling volume on major exchanges has crashed from a whopping 81,000 BTC to just 29,000 BTC. That's right, folks, we're talking about a potential supply shortage on the horizon. With fewer sellers and demand holding steady, get ready for the next big Bitcoin move!

The average selling pressure on top exchanges has plummeted from 81K to 29K BTC per day. Welcome to the zone of asymmetric demand. The market has soaked up waves of profit-taking after breaking above $100K. Sellers? Gone. Buyers? Chillin' like villains.

Futures Market Flip: Bears Losing Steam

Hold on tight, because the futures trading market is flipping the script. Adler's follow-up post revealed that short positions skyrocketed as bearish traders tried to cash in on Bitcoin's February all-time high. But guess what? That pressure's fading fast, and trading behavior is shifting gears.

Institutional Investors Take the Wheel

Get this: through exchange-traded funds, institutional investors are now calling the shots on Bitcoin's price trajectory, leaving the retail market in the dust. That means our favorite crypto is now dancing to the tune of macroeconomic events like Federal Reserve policy shifts and inflation reports. Talk about a wild ride!

Binance's Spot Trading Dominance: Bullish Sign?

Listen up, because Binance is flexing its muscles in spot trading, and it could signal a bullish trend. Joao Wedson, another CryptoQuant Analyst, dropped the bombshell that Binance's trading volume is now eight times higher than Coinbase's. And get this: past patterns show that when Binance leads in volume, Bitcoin often goes on a price surge. Buckle up, folks!

Dominance of Binance's Spot Volume and Its Market Impact: "This indicator is turning positive again, meaning Binance's volume is consistently outpacing other exchanges. The last time this happened was in January 2024, when Bitcoin was trading at around $42,000 and later surged to..."

Inflation and Tariffs: The Wild Cards

But wait, not all indicators are flashing green. Rising inflation and newly imposed tariffs could throw a wrench in the works for risk assets like Bitcoin, according to 10x Research's March 31 analysis. With inflation expectations now at 5%, these analysts believe institutional inflow could hit the brakes.

Brace yourselves, because they're forecasting Bitcoin could dip below $80,000 this week, especially with multiple risk-off catalysts likely to pressure equities and spill over into the crypto market. It's gonna be a wild ride!

Where We Stand: Bitcoin's Current State

As of now, Bitcoin is trading at $83,530, with a seven-day range between $81,488 and $88,240. Short-term risks are piling up, but with selling pressure dropping and the market stabilizing, we might just be setting the stage for Bitcoin's next big move. Stay tuned, crypto warriors!