Bitcoin Price Holds Steady, But One Level Blocks Rally
The post Bitcoin Price Holds Steady, But One Level Blocks Rally appeared on BitcoinEthereumNews.com. Bitcoin is showing unusual strength this week. While the broader crypto market is down more than 5% day-on-day, the BTC price is down just 0.6%, holding around $118,000. That kind of flat performance in a weak market usually signals bullish intent. But despite a clear lack of selling pressure, Bitcoin hasn’t broken out. And the rally, for now, is still on hold. Time to find out why! Taker Sell Volume Collapse Shows Bears Have Stepped Away One of the cleanest signs that sellers are backing off is the steep drop in taker sell volume. On July 25, Taker sell volume hit a local peak of almost $17.8 billion. Since then, it has dropped by nearly 93%, sitting at $1.2 billion at the time of writing. That kind of collapse in sell-side aggression suggests bears are no longer driving the market. Bitcoin price and Dropping Taker Sell Volume: Cryptoquant Normally, when sellers vanish like this and price holds firm, it sets the stage for upside. But in Bitcoin’s case, the price has gone nowhere. That doesn’t weaken the bullish thesis; it just means the rally is paused, not invalidated. What’s missing is a trigger. Taker sell volume tracks the value of trades where sellers are the aggressors: that is, when people are market-selling into the bid. A drop in this metric shows that fewer traders are trying to dump coins quickly, which usually reflects reduced fear or exhaustion from the sell side. NUPL Peaks Continue to Trigger Profit-Taking The missing trigger may be psychological, and Net Unrealized Profit/Loss (NUPL) helps explain why. NUPL measures the amount of unrealized profit in the system, giving a rough sense of when holders might feel tempted to sell. Over the past two weeks, Bitcoin has repeatedly tested the $119,000–$120,000 level, occurring on July 14, July…
The post Bitcoin Price Holds Steady, But One Level Blocks Rally appeared on BitcoinEthereumNews.com.
Bitcoin is showing unusual strength this week. While the broader crypto market is down more than 5% day-on-day, the BTC price is down just 0.6%, holding around $118,000. That kind of flat performance in a weak market usually signals bullish intent. But despite a clear lack of selling pressure, Bitcoin hasn’t broken out. And the rally, for now, is still on hold. Time to find out why! Taker Sell Volume Collapse Shows Bears Have Stepped Away One of the cleanest signs that sellers are backing off is the steep drop in taker sell volume. On July 25, Taker sell volume hit a local peak of almost $17.8 billion. Since then, it has dropped by nearly 93%, sitting at $1.2 billion at the time of writing. That kind of collapse in sell-side aggression suggests bears are no longer driving the market. Bitcoin price and Dropping Taker Sell Volume: Cryptoquant Normally, when sellers vanish like this and price holds firm, it sets the stage for upside. But in Bitcoin’s case, the price has gone nowhere. That doesn’t weaken the bullish thesis; it just means the rally is paused, not invalidated. What’s missing is a trigger. Taker sell volume tracks the value of trades where sellers are the aggressors: that is, when people are market-selling into the bid. A drop in this metric shows that fewer traders are trying to dump coins quickly, which usually reflects reduced fear or exhaustion from the sell side. NUPL Peaks Continue to Trigger Profit-Taking The missing trigger may be psychological, and Net Unrealized Profit/Loss (NUPL) helps explain why. NUPL measures the amount of unrealized profit in the system, giving a rough sense of when holders might feel tempted to sell. Over the past two weeks, Bitcoin has repeatedly tested the $119,000–$120,000 level, occurring on July 14, July…
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