Cryptocurrency exchange Bitfinex stated in its weekly market report that selling pressure on Bitcoin continues and that markets remain cautious about downside risks.
According to the report, the increasing amount of BTC deposited into exchanges, particularly by large investors, is strengthening selling pressure. Data reveals that large wallets account for 64% of total inflows to exchanges. This indicates an increase in potential selling intent.
On the other hand, spot Bitcoin ETFs have experienced a net outflow of $2.6 billion since the beginning of the year. Bitfinex emphasized that the limited inflows seen recently are not significant enough to indicate a strong trend reversal.
The report also stated that market uncertainty increased in the US following the Supreme Court’s decision against former US President Donald Trump’s tariff policy. This development is said to have negatively impacted risk appetite on the macroeconomic front.
The report notes that options markets and on-chain indicators are also positioned against downward price movements, stating that the $78,000 level is a significant resistance point in the medium term, while the realized price at $53,000 stands out as a critical support level.
*This is not investment advice.
