Bitcoin Price at Risk of Trend Reversal as Spot Demand Fails to Confirm Breakout
The Bitcoin price is facing uncertainty as spot demand has not confirmed a move above the $82,000 to $83,000 resistance zone.
Binance holds about 685,000 to 687,000 BTC, adding to supply concerns. Rising exchange inflows can add to the amount of Bitcoin available for sale, making it harder for buyers to push through resistance.
The buying picture is not one-sided, with ETF holdings and stablecoin inflows providing support. However, exchange reserves and net inflows keep supply and leverage concerns alive.