Bitcoin Correction Deepens: Three Key On-Chain Signals Indicate Potential for Further Decline

Recent price drops for Bitcoin (BTC) have raised concerns about a deeper correction in the market. While it briefly fell below $90,000 for the first time in seven months, on-chain data suggests this decline is not simply a correction, but rather points towards mounting selling pressure. CryptoQuant’s analysis reveals three concerning indicators: increased deposits on major exchanges like Binance, growing Bitcoin reserves held by investors, and heavy net exchange flows.