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Easing Selling Pressure: Bitcoin's Value Days Destroyed (VDD) metric indicates a decline in selling activity from long-term holders, contrasting with significant sales during the April 2024 price peak of $110,000, suggesting potential for upward market movement if demand supports it.
September Market Uncertainty: The upcoming $3.8 billion Bitcoin options expiry in September adds caution to the market, as historically, this month has been weak for cryptocurrencies, with a bearish sentiment reflected in the options market's put-call ratio of 1.41.
