Data has also been revealed that Bitcoin’s 30-day average retail inflows reached $18 billion, the same threshold as before the major corrections in August and September.
Both cases were preceded by a short-term relapse within weeks. A new cooling phase could therefore be near.
Source: Cryptoquant
Meanwhile, Coinbase Advanced’s $648 million USDC outflow on October 11 signaled declining purchasing power on the exchanges. This is a trend that, if sustained, could strengthen short-term downward pressure.
Buyers are showing early signs of returning, but the pressure remains
After days of aggressive selling, The Bitcoin taker imbalance has been negative. Sell orders still outweigh purchases on Binance. Although slightly positive numbers on October 12 indicated a cautious comeback by buyers, overall momentum was still weak at the time of writing.
Source: Cryptoquant
The market’s brief recovery attempts below $118,000 did not have a strong impact, showing limited conviction among the bulls.
Unless buy-side volume increases meaningfully, Bitcoin could face downside pressure in the near term. For now, this fragile balance depends on whether buyers can restore confidence before sellers take control again.