Data shows short-term selling pressure, but some fundamentals remain positive for the Bitcoin market. Selling pressure from miners and long-term holders is low, but institutional investor sentiment and the US market are weak.

Volatility could continue, with technical indicators suggesting the market may have reached a short-term top, especially due to overbought signals from the Stochastic indicator.

Investors should be cautious, as profit-taking and selling pressure is evident from multiple sources. However, there is still potential for a long-term uptrend if selling pressure eases and market sentiment improves.