Bitcoin Consolidation: Is Selling Pressure Waning?

Analyst Axel Adler highlights a significant shift in Bitcoin’s trading activity, with exchange inflows plummeting from 81,000 BTC per day to a mere 29,000 BTC. This dramatic decrease suggests reduced selling pressure and potentially a developing ‘supply shortage,’ which could pave the way for further price gains. 83.4k USD represents current Bitcoin price, needing to break through resistance at $84.8k, with support at $76.1k critical in this phase.