Bitcoin Price Falls to $115,347 Amid Decreased Buyer Demand

Key Points

• Bitcoin has decreased by 3% over the past week.
• Analysis from CryptoQuant shows that fading buying pressure correlates with the price decline.
• Net outflows from buyers reached nearly -$600 million, indicating sellers are dominating the market.
• Between early August and August 22, Bitcoin slipped from above $123,000 to around $113,000.
• Binance's Volume Delta shifted negative, signaling a reversal in buyer-seller dynamics.
• Profit-taking may contribute to selling near resistance zones around $120,000.
• Miner activity shows an increase in transfers from Binance to miner-linked wallets, suggesting potential accumulation.
• The shift in miner behavior could indicate reduced short-term selling pressure or strategic reserves for future price movements.