<ul><li>The Net UTXO Supply Ratio indicator issued four consecutive sell signals at the end of May 2025, indicating reduced holding incentive and increased likelihood of distribution by investors on unrealized profits.</li><li>Key Technical Scenarios Identified: Bitcoin's near-term price movement may involve sideways consolidation between $95,000 and $105,000 or a possible dip towards the $92,000-$96,000 zone to release pressure from recent overbought conditions.</li><li>Market Needs to Reset: With momentum slowing and demand lagging behind a rise in supply, a cooling phase is necessary. On-chain activity reflects a maturing phase of the rally, requiring short-term caution.</li><li>Bitcoin Outlook: While structurally strong, short-term overheated signals indicate the need for a cooling phase before the next major trend. Analysis suggests a phase of consolidation or a corrective dip could be expected.</li></ul>

Bitcoin Enters Cooling Phase as On-Chain Sell Signals Flash

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