Bitcoin’s Momentum Falters Amid Intense Selling Pressure
- Bitcoin is trading at $112,286, recovering slightly from a recent dip.
- The BTC price remains below the $115K resistance level, with the next major resistance at $120K–$123K.
- Value Days Destroyed (VDD) recently reached a level of 2.4, indicating significant selling pressure from long-term holders.
- The VDD metric has been declining, suggesting easing selling pressure and potential market stabilization.
Bitcoin’s current trading level reflects a balance between ongoing selling pressure and cautious buying interest as it consolidates within a corrective structure. The decline in VDD levels indicates reduced activity from long-term holders, which may help stabilize the market.
Despite this potential relief, Bitcoin must break through key resistance levels to shift market sentiment positively and aim for higher targets. Source
