Bitcoin Exchange Reserve Reaches Multi-Month High Indicating Potential Selling Pressure

Recent on-chain data indicates a spike in the Bitcoin Exchange Reserve, reaching a multi-month high of 3.383 million BTC. This trend may signal increased selling pressure as investors deposit more coins onto exchanges for potential selling.

Key Points

The Bitcoin Exchange Reserve is an indicator measuring BTC held in centralized exchange wallets.
A rise in this metric often precedes bearish price action.
The current value marks the highest level seen in months, indicating a shift in trader behavior.
Only 9% of the Bitcoin supply is currently in loss, compared to over 25% during previous cycles.
Bitcoin's price is approximately $111,200, reflecting a 2% increase over the past 24 hours.

Investors should monitor these trends closely, as they may impact future price movements.