2 Key Metrics Show Bitcoin Selling Pressure Is Easing – Will BTC Rally?
Two metrics, declining Coin Days Destroyed and easing ETF outflows, suggest Bitcoin selling pressure is easing, though weak buying power remains a concern.Summary
Despite Bitcoin's recent price dip, two key on-chain metrics suggest easing selling pressure. First, the Coin Days Destroyed (CDD) metric has sharply declined, indicating that long-term holders (LTHs) are moving their coins less frequently, which alleviates a major source of potential selling stress.
Second, the 30-day moving average of net inflows into Bitcoin ETFs has remained negative but is gradually moving closer to zero, showing that the magnitude of net outflows is decreasing. Analysts note that while these trends are positive, they do not yet confirm a clear directional shift.
However, analysts caution that a significant rally is restricted by weak buying power, evidenced by a nearly $1.9 billion decline in stablecoin reserves on major exchanges over the last 30 days, suggesting continued caution among market participants.
(Source：BeInCrypto)