4 Sell Signals Flash on Bitcoin – Is BTC Bulls finally run out of gasoline?

• Bitcoin fell from $ 110,000 to $ 103,000, marking a loss of 3.88% weeks in the midst of weakening investors’ feeling.
• BTC could visit $ 101 488 support; If it is broken, the next key level is close to $ 98,890, with $ 92,000 as a deeper risk.

Bitcoin (BTC) Has dropped sharply over the past week and slides from a local top of $ 110,000 to $ 103,000. At the press time, BTC hovered about $ 103,707 – down 3.88% in seven days.

This sudden change in bitcoin direction has left analysts talking over Krypto’s path.

One of these analysts is Cryptoquants Axel Adlerwho has proposed a potential dip to $ 92K, with reference to an overheated market.

Four consecutive sales signals

According to Adler, Bitcoin’s Net Utxo Supply Ratio has now blinked four straight sales signals. It is together with a visible reduction in the UTXO relationship – a combination that usually signals an overheated market.

During this market phase, profit consumption occurs and demand begins to delay the supply.

When these two events occur, they indicate that a large part of coins have moved to unrealized profit, thus reducing the incentive to Hodl and increases the potential for profit.

Data on the chain supports Adlers thesis. Bitcoin’s net unrealized profit fell to 0.553 – it’s lowest in weeks.

A drop here suggests that most of the holders currently have fewer profits than before. Thus, profit margins have dipped and signal the market’s weakness.

In fact, investors who bought BTC between $ 104K and $ 112K are now underwater.

These two scenarios risk market capital as investors are starting to get panic sales, which causes further disadvantage. As such, Adler suggested that the market at the current point needs a serious recovery.

The aforementioned market reset will mean several things for Bitcoin’s future price movement.

First, the prevailing conditions could see the BTC trading sideways between $ 95K and $ 105K until Net UTXO delivery ratio stabilizes approximately 0.85 -0.9.

This will occur, which signals a strong market that is cooled after a series of sales signals. Alternatively, a sharper return to $ 92K can play first and facilitate the current overheated structure.

In one of these cases, we will see Bitcoin fall under $ 100,000 until the market cools down again.

BTC Selling Pressure Builds – Will $ 101,000 hold?

At the peak of weak profit metrics, the take-shop-buying relationship has remained negative for four straight days.

This signals a high -sales activity on the market. If the sales pressure continues, we will see BTC fall to $ 101,488. If this support fails to hold, a dip under $ 100K is inevitable, with the next support around $ 98,890.