BlockBeats News, December 24th, CryptoQuant analyst @AxelAdlerJr posted that the Net Pressure Imbalance indicator, which measures the buy/sell pressure ratio of short-term holders, has dropped to the lowest 5% of a three-year distribution. The current level indicates that both buyers and sellers are in a state of equilibrium.The Net Pressure Imbalance indicator is calculated as the difference between the weighted sell pressure and buy pressure of short-term holders. A positive value indicates a higher current sell pressure, while a negative value indicates a higher buy pressure. The current 24-hour Net Pressure Moving Average is 4.79, with a price of $87,324. The three-year median is 73.17, indicating that during growth periods, selling pressure is usually dominant.The analyst pointed out that the market is showing a balance between the buy and sell pressure of short-term holders. Historically, such balance periods have been unstable and often transition to an uptrend during a bull market, followed by a return to selling pressure. However, the current situation is more complex as the price has been below the Short-Term Holder Realized Price by 13.9% for nearly two months, causing short-term holders to incur losses, signaling that the market has entered a bearish phase. If the price drops below $85,000 and the Net Pressure is below -15, it indicates that the magnitude of the pullback will further increase.

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