As of early September 2024, Bitcoin's price is hovering around $58,000 to $60,000, facing resistance due to a significant number of traders who purchased at higher levels between $61,700 and $70,500. Many of these traders are selling to break even, creating downward pressure. Additionally, Bitcoin miners have sold 2,655 BTC (around $154 million), further influencing the market. Despite this selling pressure, there has been a spike in aggressive buying, suggesting potential upward momentum​

The Bitcoin buy/sell ratio has shown a rise, with signs of increased buying interest over the last week. However, sentiment remains cautious, with net outflows from Bitcoin ETFs, amounting to $277 million​.$BTC