Bitcoin is facing renewed selling pressure following the latest U.S. CPI data on July 15. The leading cryptocurrency has already dropped from its recent peak of $123,203 to $117,143 — marking a 4.9% decline. With bearish momentum building and traders pulling back, the key question is whether Bitcoin could see an additional 8% correction in the coming days.
Exchange Inflows Suggest Mounting Sell Pressure
On July 15, data from CryptoQuant revealed that over 80,810 BTC — equivalent to $9.4 billion — flowed into centralized exchanges. This marks the largest single-day BTC inflow seen in recent days and highlights a significant shift in market dynamics.
Such large inflows typically signal that holders are preparing to sell. When Bitcoin is moved from private wallets to exchange addresses in high volumes, it often precedes increased market supply and potential price weakness. Combined with recent downward price action, this data reinforces the bearish outlook in the short term.
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Accumulation Zones Could Provide Support
Despite the bearish signals, historical buying patterns suggest that Bitcoin may find support during its decline. According to Glassnode’s heatmap, previous accumulation clusters exist in the ranges of $93,000–$97,000 and $101,000–$109,000.
In particular, the $107,000–$109,000 zone stands out as a critical area. This range previously acted as a consolidation zone where BTC traded sideways for several days before making a breakout. If prices revisit this area, dip-buyers may step in again, providing a floor to further downside.
These accumulation zones are significant because they represent levels where large amounts of Bitcoin changed hands historically, creating potential support in the event of continued selling.
Conclusion
The surge of over 80,000 BTC to exchanges points to increasing sell-side pressure, which could push Bitcoin lower in the near term. However, strong historical accumulation zones between $93,000–$109,000 may limit the downside and attract fresh buying interest.
As the market navigates this critical phase, traders and investors should watch these key levels closely to assess whether Bitcoin’s correction deepens or stabilizes.
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