Bitcoin Price Struggles Amid Rising Selling Pressure

The Bitcoin price is struggling to maintain its value as it faces renewed selling pressure. Despite attempts by buyers to push the price above $65,000, BTC has been unable to break through this level and is currently trading near $64,200.

Several indicators are pointing to weakening demand and rising sell-side pressure. Exchange balances have climbed, miner reserves continue to decline, and Bitcoin ETF flows have turned negative. Additionally, the Coinbase Premium remains below zero, suggesting weaker buying interest from U.S. investors.

Analyst Ali has highlighted six factors that point to increasing supply and decreasing demand. These include a large concentration of BTC supply near $61,000-$64,000, rising exchange balances, declining miner reserves, decreased strategy holdings, negative ETF flows, and a negative Coinbase Premium.

The current data suggests that Bitcoin remains vulnerable to further selling pressure, with a move toward $62,000-$60,000 possible if the price falls below $62,000. However, holding this support and breaking above $66,800 could shift the outlook and open the way toward $68,000-$70,000.