Analyst: selling pressure from BTC buyers at the top has faded sharply
- —Share of 6–12-month-old coins sent to exchanges fell from 40.4% in June to 4.4% in October
- —Monthly movement volume holds between 143,700 and 216,500 BTC
- —The share bottomed at 3.7% in September and edged up in October
- —New buying is still needed to drive prices higher, and it has not materialized
Why it matters: Fading sell pressure from late buyers removes some overhead supply, but without fresh demand BTC's upside remains uncertain.
Source: PANews