Multiple Bitcoin price data points show sellers positioning to take profit in the $88,000 to $90,000 zone. Will the bulls be able to overcome the sell pressure?
Many Bitcoin (BTC) traders became bullish this week as prices rallied deep into the $88,000 level, but failure to overcome this level in the short term could be a take-profit signal.
Alphractal, a crypto analytics platform, noted that Bitcoin whales have entered short positions at the $88,000 level.
In a recent X post, the platform highlighted that the “Whale Position Sentiment” metric exhibited a sharp reversal in the chart, indicating that major players with a bearish bias have stepped. The metric defines the relationship between the aggregated open interest and trades larger than $1 million across multiple exchanges.
