Based on our thorough examination of CryptoQuant’s data, it has been observed that as the reserves on crypto exchanges surge, the downward pressure on BTC intensifies. The net position on exchanges has exceeded the seven-day average, which serves as a signal for a possible wave of selling. Moreover, the aSORP (Adjusted Spent Output Profit Ratio) for BTC is currently in the red zone, implying that a greater number of investors may be inclined to sell and secure profits. This peculiar occurrence, transpiring amidst a flourishing bull market, raises the question of whether the market has reached its zenith.
