🔥Seller capitulation signal emerges! Glassnode: Selling pressure near $80,000 may mark a local bottom
Glassnode data shows that seller capitulation has appeared again during this downturn—that is, loss-making holders are selling off in concentrated waves. Looking back, each such wave of selling in early August, mid-August, and mid-September coincided with a local bottom at the time.
Since the September peak, profit-taking in the market has slowed noticeably. Based on this historical pattern, the wave of selling pressure near $80,000 yesterday could very well signal a local bottom in this correction.
Historical patterns are for reference only, however. Markets don’t simply repeat themselves, so it’s still important to remain cautious.$DNA $BNB $DOGE #澳大利亚提议加密交易申报法案 #SolanaAlpenglow升级将于10月21日激活 #比特币短期持有者持仓升至408万枚
Glassnode data shows that seller capitulation has appeared again during this downturn—that is, loss-making holders are selling off in concentrated waves. Looking back, each such wave of selling in early August, mid-August, and mid-September coincided with a local bottom at the time.
Since the September peak, profit-taking in the market has slowed noticeably. Based on this historical pattern, the wave of selling pressure near $80,000 yesterday could very well signal a local bottom in this correction.
Historical patterns are for reference only, however. Markets don’t simply repeat themselves, so it’s still important to remain cautious.$DNA $BNB $DOGE #澳大利亚提议加密交易申报法案 #SolanaAlpenglow升级将于10月21日激活 #比特币短期持有者持仓升至408万枚
