Bitcoin Continues its Sideways-Positive Trend

Looking at the current situation, the Netflow-Reserve Ratio is mostly around 0. Extremely positive spikes are not permanent. Negative spikes are sharper but short-lived. In other words, BTC is flowing into Binance, but not to a critical level compared to reserves. Whales are not in a mass panic selling mode. Sales appear to be mostly short-term and for trading purposes.

In short, this data does not produce a strong dump signal, but there is also no strong demand for an upward move.

My expectation is that with the Ratio turning negative, withdrawals from the exchange will outpace inflows, leading to a supply contraction and a short-term upward price movement.

Currently, the chart is neither fully bullish nor fully bearish, giving more of a consolidation warning. This on-chain structure generally keeps the price within a range.

The critical support level for Bitcoin is $81,500; as long as the price stays above this level, it will target $102,600. I think the decline will continue from this level.

The current chart shows no strong dump signals. However, there are no strong rally signals either. Therefore, the price may continue its sideways movement in the $81,500-$102,600 range for some time. $BTC #bitcoin