According to Dan Held, 80,000 Bitcoin were sold in a single day and the price barely moved, indicating significant underlying market support and liquidity. This suggests strong buying pressure and resilience in the BTC market, which is a bullish signal for traders seeking confirmation of sustained demand. The ability of the market to absorb such a large sell-off without significant price decline highlights stability and growing investor confidence in Bitcoin. Source: Dan Held

According to Cas Abbé, Bitcoin's spot selling pressure has now surpassed levels seen during the FTX crash. Despite this increase in selling pressure, BTC's price remains resilient above $95K, indicating potential seller exhaustion. This resilience amidst high liquidation events suggests a possible stabilization or reversal in the market. Cas Abbé's analysis highlights the critical nature of these developments for traders.