Sell-side pressure for Bitcoin, which last week brought the world’s largest crypto to its lowest point since President Donald Trump was elected for a second term, has begun to abate.
Analysts point to increasing demand from large buyers, the balance of aggressive buying and selling, and the percentage of supply in profit as evidence that the drawdown could be running out of steam.
“From the perspective of price action and on-chain distribution, the pace of the decline is indeed decelerating,” Tim Sun, senior researcher at HashKey Group, told Decrypt. “However, we have yet to see a signal for