Bitcoin spot cumulative volume increment (CVD) data shows significant trading activity across exchanges. Buying pressure was evident in early 2024, correlated with Bitcoin's all-time high in March. This surge could be attributed to increased investor confidence following the launch of the spot Bitcoin ETF in January, as well as growing institutional interest, which has been a major driver of recent market trends. After the halving, CVD indicated volatility in trading volumes and occasional spikes in buying activity, but the market also experienced significant selling pressure, especially in May and June. This selling pressure coincided with regulatory developments in major markets, affecting investor sentiment and causing a temporary correction in prices. Historically, the long-term CVD chart shows periods of active buying and selling activity that coincide with the Bitcoin price cycle. The large buying volumes in late 2020 and early 2021, followed by a sell-off period in 2022, highlight the cyclical nature of market behavior. Current trends suggest that while Bitcoin faces short-term volatility, underlying buying pressure could support its long-term bullish outlook.