Bitcoin's selling pressure has notably decreased, potentially paving the way for a price rally towards $124,000, according to analysts. The Stablecoin Supply Ratio (SSR) has fallen to levels typically seen at market bottoms, indicating a shift in market dynamics. Exchange data reveals a movement of Bitcoin from short-term to long-term holders, suggesting increased investor confidence. Technically, Bitcoin is facing a significant resistance level at $107,000. A daily close above this threshold could trigger a bullish breakout. On-chain metrics further support the reduced selling pressure narrative, with stablecoin liquidity on the rise and Bitcoin exchange reserves declining, pointing to a more favorable market environment for price appreciation.