Analyst: Bitcoin's upward momentum is exhausted as key indicators turn bearish

On-chain analyst Axel Adler Jr. noted that Bitcoin's market momentum is rapidly turning bearish, with the "Bitcoin Impulse" price momentum indicator dropping to negative 59. He also pointed out that the 30-day "Net Taker Volume Position Change" indicator, which measures shifts in buying and selling pressure, has fallen below the zero line for the first time in approximately three months. According to Adler, this suggests that the aggressive buying pressure that fueled the previous bull run has been largely exhausted. He added that momentum indicators generally precede changes in fund flows, and both short-term and long-term momentum indicators are already deep in negative territory. While the 30-day "Net Taker Volume Position Change" has only recently turned negative and has not yet entered full "Bearish Territory," Adler stated that the market trend will become more certain if this indicator declines further while momentum indicators remain negative.