With selling pressure easing, Bitcoin appears poised for further gains.

Recent data indicates that Bitcoin's sell-side liquidity has declined to multi-month lows, with the current supply estimated to cover only 6.6 months, a significant drop from 41 months in October 2024.

Bitcoin miners, who typically sell their reserves to fund operations, have notably reduced their sales since April 2024.

Miner outflows to exchanges have decreased, reflecting a preference to hold Bitcoin amid stable profits.

Long-term holders are also maintaining their positions, encouraged by positive market indicators.

This trend contributes to market stability and reduces selling pressure, potentially paving the way for further Bitcoin appreciation.

Analysts remain optimistic about Bitcoin's trajectory, with some predicting that it could reach $200,000 by the end of 2025.

In summary, the combination of reduced selling pressure from miners and long-term holders, along with positive market sentiment, suggests that Bitcoin may be on track for new highs in the near future.