Analyzing the High Selling Volume Impact on WBTCUSDT Price Trend

I observe that WBTCUSDT is experiencing significant selling volume, with 116.39K Tenge traded in just 31 seconds. The current price has slightly decreased from 116,745.22 to 116,698.47, indicating a very mild negative price change close to 0%. Over the past 24 hours, the price has decreased by approximately 0.089%, with minor fluctuations in the last 4 hours and 1 hour. The daily trading volume stands at about 9.083 million Tenge, with slightly more selling activity (53%) than buying (47%). The net volume over the recent 15 minutes and 1 hour has decreased notably by 56% and 70%, respectively, suggesting a recent shift in selling strength. Alerts over the past 24 hours number 23, indicating increased market attention. These signs point toward a temporary or minor downtrend driven by increased sell-offs. The high selling volume, relative to the total trading activity, suggests that sellers are currently more aggressive than buyers in the short term. However, given the minimal price change and the slight recovery in recent hours, it might be a momentary correction rather than a strong bearish trend. Investors should consider the recent spike in sell volume as a caution signal. While it doesn’t necessarily signal an immediate collapse, it highlights underlying pressure from sellers that could intensify if market sentiment worsens. Monitoring the upcoming trading sessions for any sustained increase in sell volume or breaking support levels will be crucial for gauging future moves.