Analysis: Bitcoin Breaks Below Key Daily Moving Averages, Intensifying Derivatives Selling Pressure May Prolong Bottoming Cycle

Odaily News CryptoQuant data shows that the Bitcoin price has fallen below both the 50-day and 200-day moving averages. The significant deviation from these key moving averages reflects a correction or "repricing" phase following the previous uptrend. Furthermore, CryptoQuant's Price Z-Score is currently at -1.6, indicating that the Bitcoin price is below the statistical average. This typically signals increased selling pressure and weakening trend momentum. Historically, similar periods have more often corresponded with prolonged bottoming phases rather than rapid rebounds. Regarding the derivatives market, crypto analyst Darkfost pointed out that the seller-dominated structure is intensifying. Data shows that the net taker volume for the past week turned sharply negative to -$272 million, while the taker buy/sell ratio on the Binance platform fell below 1, indicating a significant rise in market selling pressure. Currently, futures trading volume remains notably higher than spot inflows. The market requires stronger spot buying to trigger a rebound.