As Bitcoin Sell Pressure Fades, Could A Local Bottom Be Forming? Analyst Explains

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🚨 Is Bitcoin About to Make a Comeback? 🚨

As Bitcoin Sell Pressure Fades, Could A Local Bottom Be Forming? Analyst Explains

Well, shucks, folks! It looks like Bitcoin (BTC) is gettin’ a mite more optimistic. According to crypto analyst Ali Martinez, the premier cryptocurrency is seein’ a decline in sell-side pressure, which might just mean a local market bottom is brewin’.

Bitcoin’s Bottom Line

Bitcoin’s been tradin’ just below the $100,000 mark, hoverin’ at $98,650 at the time of writin’. But, by gum, it’s got a whole lot less folks sellin’ it than they used to. And that, my friends, is a mighty fine sign.

Martinez shared a chart from Glassnode that shows a sharp decline in the sell-side risk ratio since mid-January 2025. Now, I know what you’re thinkin’: “What in tarnation is a sell-side risk ratio?” Well, let me tell you, it’s like a big ol’ indicator that says, “Hey, people are holdin’ onto their BTC and ain’t sellin’ it no more!”

Now, I’m no expert, but it seems like this might just be the start of a new accumulation phase, where prices might stabilize or even start risin’! But, of course, we gotta keep an eye on those support levels. If BTC don’t hold above ’em, well, it’s back to the drawing board, partner.

Crypto analyst Rekt Capital weighed in on Bitcoin’s price action, sayin’ that a weekly close above $97,000 is mighty important. And, boy, did he share some fancy charts to go along with it!

And, if you’ll believe it, fellow analyst Daan Crypto Trades is thinkin’ BTC’s got a solid break from a descending channel structure. He says, “Just need to see the continuation now into the weekend to get a good base goin’ into next week. $98K is key in the short term.”

The Sky’s the Limit (or is it?)

Now, some folks are thinkin’ that BTC might just go on to new heights, reachin’ a new all-time high (ATH) and all that jazz. Analyst Kevin’s predictin’ a short squeeze that’ll send BTC to $111,000, while Rekt Capital’s seein’ early signs of a bullish divergence that could break the bearish price momentum.

At press time, BTC trades at $98,650, up 0.1% in the past 24 hours. Not too shabby, if you ask me!

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2025-02-22 10:37