After a slight increase at the beginning of the day, CVD continuously turned negative. In other words, more sell orders entered the market than buy orders. In summary, traders viewed the rising price as a selling opportunity rather than opening new positions. Even during small recoveries later in the day, selling pressure persisted. This indicates that there is no strong conviction behind the upward movement.

Volume Confirms the Distribution
On-Balance Volume (OBV) shows a similar pattern. Although Bitcoin's price remains largely sideways, OBV is trending downward. This divergence indicates that trading volume is flowing out of the asset, meaning funds are exiting rather than entering. #GateSquareAprilPostingChallenge