Selling pressure in the $109,000-$115,000 range for Bitcoin.

Recently observed volatility in the price of Bitcoin (BTC) continues to capture the attention of investors. Bitcoin, trading in the range of $109,000 to $115,000, has on-chain data suggesting that investors view the rise as a selling opportunity. Recent data shared by the analytical platform Glassnode shows that Bitcoin's net premium flows have indicated significant selling pressure within this price range.

This situation suggests that recent gains in Bitcoin's price are being utilized by investors for profit-taking or hedging purposes. According to market data, especially long-term investors are considering strengthening price movements as an opportunity to realize profits, while short-term investors are opting for defensive positions through price consolidation.

Glassnode analysts note that traders are currently taking a "defensive position against strong prices," and that the increasing hedging transactions are particularly linked to the rising demand for put options in the options market. This indicates that the market exhibits a cautious stance even during short-term recoveries, increasing the likelihood of renewed volatility.

The overall picture emphasizes that while the price of Bitcoin is trying to stabilize around $110,000, investors are prioritizing risk reduction strategies. This dynamic conveys that the market is going through a period where caution is necessary from a broader perspective. It is crucial for investors to closely monitor this price range to assess potential risks and opportunities.