Bitcoin gauge tracking selling pressure moves into 'high-risk' zone as ETF demand slumps
Crypto
U.S. spot bitcoin ETFs have accumulated a net 4,500 BTC YTD but May has reversed the buying pattern built through March and April, while on-chain selling pressure gauges move into 'high-risk' territory per Swissblock. The confluence of weakening institutional demand and elevated selling pressure creates a tactical short setup, with ETF flow trend as the cleaner real-time signal.
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↓ SHORT-8% target+4% stop2-3 weeks tactical
Short IBIT tactically as ETF demand reversal in May + high-risk on-chain selling pressure gauge signals near-term BTC downside; target -8% on IBIT with tight stop above recent highs.