According to an X post by crypto analyst Ali Martinez, Bitcoin (BTC) is witnessing a decline in sell-side pressure, indicating that a local market bottom may soon form for the premier cryptocurrency.
Bitcoin Local Bottom On The Horizon?
Bitcoin continues to trade just below the psychologically significant $100,000 level, hovering at $98,650 at the time of writing. However, the top cryptocurrency by market capitalization is witnessing a notable drop in sell-side pressure.
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Martinez shared the following Bitcoin Sell-Side Risk Ratio chart from crypto analytics platform Glassnode, highlighting a sharp decline in the metric since mid-January 2025. This drop suggests that BTC may be forming a local price bottom, potentially leading to a new accumulation phase.
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