Bitcoin Struggles in Bearish Phase as Net Pressure Imbalance Drops to 3-Year Low While Short-Term Holders Stay in Equilibrium

COINOTAG News reports that CryptoQuant analyst Axel Adler Jr. notes that the Net Pressure Imbalance indicator, which measures the buy-versus-sell pressure among short-term holders, has slipped into the bottom 5% of its three-year distribution, signaling a notably balanced market stance.

The Net Pressure Imbalance equals weighted sell minus buy pressure for short-term holders. A positive reading signals selling pressure, a negative one indicates buying pressure. The latest 24-hour Net Pressure Moving Average is 4.79 as Bitcoin trades near $87,324.

The three-year median is about 73.17, implying that selling pressure often dominates in growth phases. While such balance can herald volatility, the current backdrop is nuanced: price sits roughly 13.9% below the Short-Term Holder Realized Price for nearly two months, hinting at a bearish tilt.

A breach below $85,000 with Net Pressure under -15 could signal further drawdown. Until then, traders should seek corroborating signals rather than rely on a single metric.