Bitcoin Seller Pressure Jumps to Cycle Top Levels, Analyst Warns

The signal's relevance lies in its timing: it appeared right after a rebound above $85,000, meaning the rally itself may have pulled forward supply from the most reactive cohort — short-term holders. That distinguishes this from broad distribution by long-term wallets, and it frames the current setup as a test of whether new demand can absorb that supply rather than a verdict on the trend. The open question is whether demand improvement and volatility convergence actually materialize; without them, the same indicator that flagged earlier local tops this cycle would be doing so again.