Bitcoin continues to trade sideways around the $68,000 level on Wednesday. Market attention is focused on President Donald Trump’s critical speech regarding the Iran war. According to reports, Trump may send a message that the conflict could end within a few weeks and that the final steps are a strategic success. However, while the narrative of “the war is ending” gains momentum, Bitcoin’s intraday data reveal a more cautious market behind the scenes.


The rallies Were Not Built, They Were Sold
Cumulative Volume Delta (CVD) clearly shows that sellers have been dominant throughout the day. After a slight increase at the start of the day, the CVD continuously turned negative. In other words, more sell orders entered the market than buy orders. In summary, traders viewed the rising price not as an opportunity to open new positions but as a chance to sell.
BTC-0.23%
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