Bitcoin Faces Critical Decision Point Amid Heavy Selling Pressure
- Bitcoin is trading at $94,816.
- BTC faces a dense supply cluster between $93,000 and $100,000.
- Selling pressure is significant at current levels according to Checkmate’s heatmap analysis.
- Cumulative inflows into Bitcoin ETFs have reached an all-time high of $40.62 billion.
- Hundreds of thousands of BTC positions are underwater below the $95,000 mark.
Bitcoin’s current trading range suggests a critical juncture where it must overcome heavy selling pressure to avoid signaling bull market exhaustion. Demand for Bitcoin ETFs remains robust, with inflows hitting a record high.
Source (2.6)https://dailyhodl.com/2025/05/06/analyst-warns-bitcoin-one-big-red-candle-away-from-signaling-that-bull-market-is-over-heres-his-outlook/?rand=59076
