BTC trapped in sideways trend amid buyer-seller stalemate, analysis finds

Bitcoin is continuing to trade sideways as selling and buying pressures reach a stalemate, according to an analysis by Timothy Misir, head of BRN Research. He noted that while retail investors recently deposited 31,800 BTC onto exchanges, the number of wallets holding over 1,000 BTC has increased by 2.2% in the last four months. Misir explained that this buying activity from long-term investors and whales is offsetting the selling pressure from retail and short-term holders. He added that the BTC price remains confined to a narrow range because institutional buying has not been sufficient to absorb selling pressure from market-wide deleveraging. However, Misir suggested that macroeconomic factors, such as the U.S. Federal Reserve's upcoming interest rate decision in December, could break the current deadlock and increase crypto market volatility.