Bitcoin Sales Pressure Indicator Reaches 800-Day Mark Amid Market Turbulence
Recent commentary has emerged regarding the crypto market's resilience amid a downturn in traditional US markets. Bitcoin has remained steady, despite slipping below $83,000 over the weekend.
BTC Price At Risk Of Sales Pressure
Analyst Axel Adler Jr. discussed the potential for sales pressure on Bitcoin using the Sales Pressure model, which incorporates Net Unrealized Profit/Loss (NUPL) and Spent Output Profit Ratio (SOPR). Key points include:
- The Sales Pressure model indicates when long-term holders might sell assets, often signaling market tops or declines.
- Genuine sales pressure may emerge after 800 days, with significant events potentially extending this to over 1000 days.
- The current indicator has reached the 800-day mark, suggesting increased risk for sales pressure.
- Bitcoin has shown resilience due to institutional buying, low sales pressure in the spot market, and neutral futures sentiment.
The stock market remains under pressure, with the VIX above 30 and the S&P 500 down over 4%, indicating further potential declines. In response, President Trump has suggested that the Federal Reserve should reinstate aggressive monetary stimulus.
Bitcoin Price At A Glance
As of now, BTC is priced at approximately $83,350, showing nearly a 1% increase in the last 24 hours.