Bitcoin's Next "Local Bottom" Could Be Here Thanks To Retail Sellers
Bitcoin (BTC) is potentially reaching a local bottom as retail investors take profits, according to research from CryptoQuant. Retail investors are reducing their BTC exposure as prices hover around $120,000. Inbound transactions to exchanges, particularly from short-term holders (STHs), have increased, with the Binance Exchange Inflow Ratio surpassing 0.4, often indicating local bottoms. This spike suggests that retail participants are depositing Bitcoin to secure profits after a price surge. Following recent all-time highs, trading activity surged across exchanges, with Binance seeing the largest single-day increase in spot trading volume. Current analysis indicates seller exhaustion in the BTC/USD market, with price fluctuations between $116,000 and $120,000. Traders anticipate another upward movement for Bitcoin, while liquidity on exchange order books is concentrated around $117,500.
