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Bitcoin Faces Rising Sell Pressure As Climbing Treasury Yields Keep BTC In ‘Wait’ Mode, Says Analyst
Bitcoin’s (BTC) internal market structure weakened over the past week as coins flowed back to exchanges and demand for U.S. spot ETFs eased, with one systematic model flagging rising seller pressure. CryptoQuant analyst Axel Adler Jr.’s Weekly Engine model has issued a “WAIT” call on Sunday, unchanged for an eighth straight week, with 0% allocation in Bitcoin. Bitcoin’s price closed -0.1% on the week, according to the analyst’s model. As of writing, the apex currency was trading around $65,130, up over 1% in the last 24 hours. On Stocktwits, retail sentiment around BTC dropped to ‘bearish’ from the ... (full story)
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