Data from Binance indicates a clear surge in selling pressure in recent hours, confirming that the market is experiencing significant downward pressure on long positions due to insufficient buying power to absorb the increased supply. Selling volume reached $1.517 billion, compared to only $1.058 billion in buying volume during the last hour—a substantial difference that reveals the dominance of sell orders executed by traders who directly move the price (takers). This imbalance is reflected in the indicator’s value of –0.17%, a negative signal indicating continued selling pressure in the market despite relative price stability.
Interestingly, this selling pressure is occurring while the price is fluctuating near critical levels around $94,000, having traded within the $100,000–$102,000 range over the past few days. With each attempt to rise, sellers intervene with large, immediate orders that negate any upward momentum. Furthermore, the indicator’s gray bars show that this selling bias is persistent and recurring, not merely a passing fluctuation, indicating weak liquidity on the buy side compared with the strength of selling momentum. Overall, current data shows a market clearly skewed in favor of sellers, with the potential for continued pressure if liquidity does not emerge to counterbalance the bias. Should this trend persist, the price could experience a sudden downward move driven by increased sell-offs, particularly if current support levels are breached.
Written by Arab Chain
