Bitcoin Price Drops as Sellers Dominate Market with Negative Order Pressure

CryptoQuant analyst Axel Adler Jr. has noted that over the past two days, the market for Bitcoin has shifted in favor of sellers. This shift has led to a price drop from $79,900 to $78,700.

Data shows that on September 6, the Bitcoin active order pressure oscillator stood at +3.82 before dropping below zero and remaining in negative territory for 46 hours, with the latest reading at -3.19. Although selling pressure has eased from its period low of -5.28, bulls have not yet regained control.

The short-term outlook remains bearish, and an improvement signal would be the oscillator consistently returning above the zero line, accompanied by a halt in the price decline. If this happens, it could indicate that buyers are starting to regain control over the market.