Bitcoin Price Suffers From Significant Coinbase Selling Activity – Largest Since October 26th

Bitcoin faced a major correction, falling 15% from its all-time high of $108,300. This drop in prices represents a sharp shift in market sentiment, which quickly shifted from very bullish expectations to expectations of uncertainty and caution. With altcoins suffering heavy losses, Bitcoin’s correction has raised concerns about the sustainability of the recent rally.

Leading analyst Marton recently highlighted that this correction is in line with Coinbase’s most significant selling activity since October 26, when BTC was trading at $66,000. This increase in selling pressure is a clear signal of a shift from a bull market to one filled with fear and hesitation. The combination of low buying activity and high selling pressure indicates that the market is struggling to maintain its upward momentum.

As BTC navigates this volatile phase, investors are watching closely to see if the market is able to stabilize or if further declines are imminent. The next few days could be crucial in determining whether the recent correction marks the beginning of a larger downtrend or whether Bitcoin can regain its bullish position.

Bitcoin sentiment shifts

Market sentiment, the main driver of price action, has quickly shifted from bullish to fearful, with Bitcoin now testing the $92,000 mark to find support. While the price itself has not seen a sharp drop in force, the broader market is seeing heavy losses, especially among altcoins. This suggests that the risk of a more significant correction is increasing as market participants scramble to adapt to the change in sentiment.

Top CryptoQuant Analyst Maartunn Featured Gap in Bitcoin CoinbaseWhich shows that selling activity on Coinbase rose to its highest level since October 26, when BTC was trading at $66,000.

This rise in selling pressure indicates that many investors are taking profits or potentially exiting their positions when market sentiment turns negative. The heavy selling volume signals a potential shift from optimism to caution, with further decline likely if the market does not regain confidence soon.

Despite this, the outlook remains uncertain. Many analysts believe that Bitcoin still has room to rise, with some noting that the recent price action may not necessarily indicate that the top has been reached. The market is in a delicate balance with the price approaching critical support levels, and the next few days could be crucial in determining whether Bitcoin can bounce back or whether a further correction is in store.

Price action challenges the bullish structure

Bitcoin is currently trading at $92,200, a critical level that must hold for the bulls to maintain control of the price action. This level represents key support, and the price structure remains strong above it, indicating that the recent correction may be just a shakeout and not the beginning of a trend shift. If BTC can close above this mark in the coming days, there is a strong chance of a recovery, as it will confirm that the bulls are still in control.

However, if Bitcoin fails to hold above $92,200 and loses this level, the situation will become more serious. A break below this support could trigger a series of sell-offs, sending Bitcoin prices lower and possibly signaling the start of a deeper correction.

Related Reading: Bitcoin Cycle Peak “Could Arrive in October 2025” – Analyst Explains Why

The next few days are crucial in determining Bitcoin’s direction, as holding at this level will help maintain the upward momentum While his loss may pave the way for a more significant withdrawal. Right now, traders and investors are closely watching how BTC reacts to this critical support level to gauge the market’s next move.

Featured image by Dall-E, chart from TradingView