Bitcoin experienced a significant rally on August 19, approaching $70,000 after consolidating between $60,000 and $64,000. The Adjusted Sell-Side Risk Ratio reached 20.23%, signaling increased profit realization activity. Spot market netflows hit approximately $233 million over 24 hours and $556 million over 30 days. The Bitcoin Regime Score crossed above 60%, suggesting short-term bullish momentum. However, seller pressure and rising profit-taking could create resistance to further upside if demand fails to absorb the selling pressure.
Source: Read the original article
