Seller pressure is mounting: bitcoin holds above $64,200, but the foundation is shaky
The Bitcoin (BTC) price continues to hold above the $64,200 mark, but selling pressure remains persistent. A key on-chain indicator, the Cumulative Volume Delta (CVD), on the Binance exchange shows a deeply negative value of around -899,000 BTC. This is direct evidence that the volume of sell orders consistently exceeds buying demand.
CVD is the cumulative difference between market buy and sell volumes. A negative value indicates that sellers dominate, outweighing buyer activity. This is exactly the picture we are seeing in the market in recent trading sessions.
Price rise without buyer support
According to my data analysis, the Bitcoin price has recovered from levels around $60,000 and returned above $64,000. However, this rise was not accompanied by an improvement in the CVD indicator, which remained in deeply negative territory. Such a divergence is a classic sign of weakness: the recent bounce was not backed by strong buying activity. Instead, the increase occurred amid ongoing selling pressure, casting doubt on the sustainability of the recovery.
Demand curbs the decline
Additional data confirms this picture. Total trading volume reached approximately 492,000 BTC, and the net volume (delta) stood at around 10,180 BTC. Despite isolated positive flows in some periods, the accumulated value of the indicator still reflects the predominance of sellers over the entire period under review. Some participants appear to be using the price rise as an opportunity to reduce positions or lock in profits.
At the same time, Bitcoin's ability to hold above $64,000 points to the presence of demand sufficient to absorb part of this pressure and limit its direct impact on the price. However, this is more of a temporary respite than the start of a sustainable trend.
My professional conclusion: The current situation resembles a tug-of-war. Sellers clearly dominate in volume, but buyers are still willing to defend key levels. If pressure does not ease and buying demand dries up, a break below $64,000 could trigger a deeper correction. Keep an eye on the CVD—it is your main compass in the coming days.