Analysis: Bitcoin broke below a key daily moving average indicator, and increased selling pressure in derivatives may prolong the bottoming process.

CryptoQuant data shows that Bitcoin's price has fallen below both the 50-day and 200-day moving averages, with the significant price difference reflecting a correction or "repricing" phase after the previous upward trend. Furthermore, CryptoQuant's Price Z-Score is currently -1.6, indicating that Bitcoin's price is below the statistical average, typically signifying increased selling pressure and weakening trend momentum. Historically, similar price ranges have often corresponded to longer periods of bottoming out rather than rapid rebounds. In the derivatives market, crypto analyst Darkfost points out that the seller-dominated landscape is strengthening. Data shows that last week's weekly net taker volume turned sharply negative to -$272 million, while Binance's active buy/sell ratio fell below 1, indicating a significant increase in selling pressure. Currently, futures trading volume is still significantly higher than spot inflows, and the market needs stronger spot buying to trigger a rebound.