According to Glassnode<\/em> data, long-term investors have recently sold nearly 3.4 million Bitcoins<\/strong> at a profit. Meanwhile, capital inflows into American BTC<\/a> ETFs have significantly decreased. This combination suggests a possible market exhaustion<\/strong>.<\/p>\n\n\n\n “With many investors betting on a fourth-quarter rally, a correction would be the biggest surprise,”<\/em> warns Markus Thielen from 10x Research. The risk is that stop-loss orders could trigger a new wave of selling.<\/p>\n\n\n\n Other indicators are sending mixed signals<\/strong>. The Spent Output Profit Ratio (SOPR) at 1.01 indicates selling pressure, while the NUPL index for short-term investors approaches the neutral zone, foreshadowing potential liquidations<\/strong>.<\/p>\n\n\n\nMixed Signals for BTC<\/h2>\n\n\n\n