Cryptocurrency Analysis Company Alphractal shares the latest data on the Bitcoin market. According to our ratings, sales pressure from miners has fallen to its lowest level since 2024.
The “miner sales pressure” metric tracked by Alfractal measures the miner’s sales power. This metric compares the total BTC outflow over the last 30 days with the average of minor reserves over the same period. A low value indicates that the miner holds the assets. This is a positive signal for the price.
However, Alphractal warned that interest on resale could increase in the coming weeks, depending on the direction of price.
Meanwhile, despite Bitcoin’s above the $103,000 level, open interest in futures continues to remain weak. Currently, the total open interest amounts to $61.3 billion. Alphractal reminded us that when BTC was at these levels in the past, open interest was at least about $68 billion, and said the current outlook reveals leveraged trading volume and low activity of market manufacturers. This situation has been assessed as a result of liquidation and closing positions in recent months.
In the short term, whales are seen closing their long positions and providing signals indicating a change in market direction. Alphractal said that if whales’ location trend metrics continue to decline, they could either link the market sideways or enter the revision process.
*This is not investment advice.
