$BTC $ETH Don't guess anymore! The truth behind Bitcoin's sideways movement is actually an epic "long-short handover"...

We all thought the institutions had run away, but the data contradicts this: the Coinbase premium index continues to be positive, and Wall Street's money hasn't withdrawn; it's quietly positioning itself! So why isn't the price of coins moving up? The answer is simple and brutal—there's too much selling pressure!

Where does the selling pressure come from? Two major sources are continuously applying pressure:

1. Exchanges' stockpiled goods being dumped

In 2025, across four quarters, platforms like OKEx and Binance continue to see daily spot outflows, and the selling pressure is like a "silent flood discharge."

2. Miners selling to survive

Electricity costs are burning, and operations require money; many miners have reached a critical point—not because they are bearish on the future, but because they can't survive the present.

What's more subtle is that a group of "ancient holders" in Asia have started to move. Under macroeconomic uncertainty, their nearly zero-cost chips are gradually being liquidated. Thus, the market forms a global confrontation:

· Buyers: U.S. institutions patiently picking up, long-term positioning

· Sellers: veteran players in Asia + struggling miners, selling for reality

Before this "long-short blood exchange" ends, the market is unlikely to take off—it's not that no one wants Bitcoin, but those forced to sell still haven't finished selling.

Once this batch of "unwilling selling pressure" is cleared, the market will be light on its feet. What you see now in the sideways movement is merely the calm before the storm #比特币流动性 #美国非农数据超预期 #巨鲸动向 #ETH走势分析 #美联储降息预期升温 .