Is Bitcoin’s selling pressure easing?

Yes. The analysis indicates that Bitcoin selling pressure appears to be easing.

Does easing selling pressure mean Bitcoin is bullish?

No. The analysis says a bullish turn has not yet been confirmed.

What does the Bitcoin outlook remain?

The outlook remains uncertain because weaker selling pressure has not yet developed into a confirmed bullish reversal.

[Analysis] Bitcoin Selling Pressure Eases, But Bullish Turn Still Unconfirmed

CryptoQuant's CoinNiel said the sharp drop in Bitcoin exchange netflows shows immediate selling pressure is easing significantly.
Bitcoin funding rates and open interest (OI) have moderated, cooling overheated long positioning, but still-elevated leverage suggests the excess has not been fully cleared.
He identified a shift to negative exchange netflows and stable funding rates as the key signals for Bitcoin's next bullish turn, adding that liquidity indicators should be monitored together.

Forecast Trend Report by Period

Bitcoin's on-chain selling pressure and overheated leverage are easing, but it is still too soon to confirm a full bullish turn, according to a CryptoQuant analysis.

CryptoQuant contributor CoinNiel wrote on August 16 that Bitcoin exchange netflows plunged to 29 BTC from 3,507 BTC on August 14, signaling that immediate selling pressure is falling sharply.

An increase in Bitcoin flowing to exchanges is generally interpreted as a rise in coins available for sale. By contrast, shrinking net inflows can signal that potential selling pressure is easing.

Excess in the derivatives market is also cooling. Bitcoin funding rates dropped to 0.00465 from 0.0228, while open interest slipped to about $22.94 billion from about $23.11 billion.

[Analysis] Bitcoin Selling Pressure Eases, But Bullish Turn Still Unconfirmed

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