2 min read
Bitcoin’s recent rally toward $90,000 has faltered after 17,000 BTC flowed into crypto exchanges, raising concerns of a deeper sell-off. Despite this, spot market data suggests traders see the current BTC to PKR pricing as a potential bargain.
Analysts note that inflows of this scale 9,867 BTC on Jan 20 and 6,786 BTC on Jan 21 are unusual compared to January’s average daily flows of -2,000 to +2,000 BTC, signaling a possible supply overhang near current levels. This surge in exchange deposits mirrors market patterns seen in mid-2025 when Bitcoin faced similar topping behavior.
Bitcoin’s SOPR (Spent Output Profit Ratio) dropped to 0.965, indicating short-term holders are averaging a 3.5% loss. Prices have been testing key resistance levels between $89,000 to $90,000, highlighting the delicate balance between selling pressure and buying demand.
Data from Glassnode shows that Binance and overall exchange cumulative volume delta (CVD) are moving toward buy-dominant conditions. Selling pressure on Coinbase has stabilized, reducing overhead supply. Crypto analyst Darkfost noted that the Stablecoin Supply Ratio (SSR) dropped sharply, suggesting Bitcoin’s market cap is correcting faster than stablecoin liquidity potentially signaling a bottoming process for BTC to PKR markets.
While technical indicators hint at stabilization, the current buying levels may not be sufficient to sustain further price gains, implying traders should remain cautious in the near term.
